In a bid to help small businesses to get back on their feet from the impact of Coronavirus, the Chancellor has announced that small companies are to get more time to repay bounce back loans. It has been reported that 1.4 million small firms have borrowed a total of around £45 billion under the Bounce…
Category Archives: Government backed loans and funding
Blog, Business Grants and Rates relief, Government backed loans and funding, Self Employed Income Support Scheme (SEISS)
New penalties for overclaimed CJRS, SEISS and “Eat out to Help Out” Grants
07
Dec
Dec
HMRC have announced that they will be imposing penalties of up to 100% of the amounts overclaimed on businesses so make sure that your claims are correct. The penalties depend on whether or not the overclaim is the result of a deliberate error and whether or not the disclosure was prompted by HMRC. The penalty…
Coronavirus general, Government backed loans and funding, Job Retention Scheme, Self Employed Income Support Scheme (SEISS)
Furlough scheme EXTENDED and other further support announced
02
Nov
Nov
Over the weekend it was announced that England will be plunged into another lockdown, though with a few less restrictions than the first. Many businesses are being ordered to close including: Non-essential retail Hospitality Indoor and outdoor leisure and sports facilities Entertainment venues Personal care facilities Places of worship (except for some exemptions such as…
Blog, Government backed loans and funding, Job Retention Scheme, Self Employed Income Support Scheme (SEISS)
Yesterday’s announcements by the Chancellor
23
Oct
Oct
Yesterday’s announcements by the Chancellor of the exchequer saw changes introduced to the Job support scheme and the extension to the self-employed income support scheme. Both schemes were announced as part of  the Winter economy plan in September and major changes are now being made to the schemes before even the first claims are able…
Blog, Government backed loans and funding, Job Retention Scheme
New Job Support Scheme and further cash grants
12
Oct
Oct
Job Support Scheme Further announcements were made on Friday extending the Job Support Scheme to businesses that are required to close due to Covid restrictions. The expansion of the scheme will see the government pay two thirds of employees’ salaries, to businesses that are legally required to close their premises. The two thirds is restricted to…
23
Jun
Jun
On 18th June the application for the Dairy Response Fund opened. The good news is that it is finally here with an eligibility checker. The bad news is that many producers adversely affected by the Pandemic are still excluded from claiming. If you have seen a fall in milk price of more than 25% between…
08
Jun
Jun
There’s a lot of uncertainty in the tourism industry about what business will look like when lockdown ends. Whilst most tourism businesses are keeping their doors shut for now, it currently looks like many tourism businesses will start to get the go ahead from the Government, to open their businesses from 4 July 2020. Some…
28
Apr
Apr
Yesterday Rishi Sunak announced a new loan scheme for small businesses that will be 100% guaranteed by the government: The scheme will provide loans of between £2,000 and £50,000 The loans will be interest free for the first 12 months – comparable to the Coronavirus business interruption loan scheme Applications will be able to be…
Blog, coronavirus, Government backed loans and funding
Future Fund Announced for Struggling Start-ups
20
Apr
Apr
The government have announced a new £1.25million package to support innovative new companies not eligible for the previous measures announced. An initial £250 million will be delivered through the future fund, this will provide government loans to UK companies to at least match funding received from private investors. Companies will be able to access amounts…
02
Apr
Apr
The Business Secretary last night issued warnings to UK banks regarding the Coronavirus Business Interruption Loan Scheme: The Chancellor along with the Bank of England and Financial Conduct Authority have written to the Chief Executives of the banks to ensure that the benefits of the loan scheme are passed along to businesses and consumers. He…
