COVID-19 – Business Support – Changes Made To Coronavirus Business Interruption Loan Scheme – Is It Too Little, Too Late?
The Chancellor, Rishi Sunak, has announced that changes will be made to Coronavirus Business Interruption Loan Scheme (CBILS) from today to boost the support to businesses affected by COVID-19. This is set against a backdrop of a growing sense of frustration at the stance being taken by the lenders that has made CBILS virtually redundant […]
For many small businesses, the strain on their cash flow from COVID-19 is really beginning to bite. As a result, a growing number of businesses are looking for advice as to whether they legal grounds to end or suspend a contract in a bid to reduce expenditure. Our colleague, John Warchus of Moore Blatch solicitors, […]
As part of the basket of measure the Chancellor announced to support businesses impacted by COVID-19, there is the opportunity to defer VAT payments as an aid to business cash flow. All UK VAT-registered businesses have the option to defer VAT payments due between 20th March and 30th June. In practical terms, for businesses making […]
The government temporarily relax wrongful trading laws to allow Directors to take tough decisions without fear of personal liability.
HMRC have published their detailed guidance on the eligibility and process for making a claim through the Coronavirus Job Retention Scheme which we have summarised.
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 […]