The Coronavirus Business Interruption Loan Scheme is now live. The key features are: Up to a £5m facility: The maximum value of a facility provided under the scheme will be £5m, available on repayment terms of up to six years. 80% guarantee: The scheme provides the lender with a government-backed, partial guarantee of 80% against […]
As the government race to build a support structure for businesses and individuals left in crisis from the impact of COVID-19, much has been achieved in a very short time. However, at the moment, too many fall through the cracks.
Yesterday, The Chancellor announced new measure to support businesses through the challenging times ahead and we now have more details on how these will work in practice. The Coronavirus Job Retention Scheme Under this scheme, which is open to all UK businesses, HMRC will reimburse 80% of furloughed workers wage costs, up to a cap […]
The Coronavirus Business Interruption Loan Scheme We have been party to communications from Lloyds Bank on their general lending criteria in these times and how they anticipate Business Interruption Loan Scheme is going to work. In our opinion, it isn’t. This is simply not the right solution for the problem. Our fear is if this […]
The spread of COVID-19 is presenting an unprecedented challenge to businesses across the world. We recognize COVID-19 as the greatest global threat since the Second World War and that we are extraordinary times that will probably last for the next few months. As a global society, we have a duty of care to help the […]
In a stunning development last night, Stephen Barclay, the Chief Secretary to the Treasury reported to the House of Commons “I can also announce this evening, madam Deputy Speaker, that the government is postponing the reforms to the off-payroll working rules, IR35, from April 2020 to the 6th April 2021.” Although he went on to […]