Self-employed grant scheme to open to applications
Self-employed workers whose income has been hit by the coronavirus crisis can apply for grants from the government from 13 May. The Self-Employed Income Support Scheme (SEISS) is designed to match the support being given to furloughed employees. Under the scheme the government will pay self-employed people a taxable grant based on an average of their earnings […]
Chancellor extends Job Retention Scheme until October
Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (JRS) until the end of October. Mr Sunak confirmed that employees will continue to receive 80% of their monthly wages up to £2,500. However, the Chancellor said companies will need to start sharing the cost of the scheme from August. The scheme will continue from […]
Close to £15 billion lent through government’s coronavirus schemes
Almost £15 billion has now been borrowed through government-backed schemes designed to help businesses get through the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury. More than 304,000 businesses have now accessed support through either the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) or the Coronavirus Large […]
One million apply to self-employed grant scheme in 48 hours
A million self-employed workers whose income has been hit by the coronavirus (COVID-19) pandemic made 440,000 applications for government grants during the first 48 hours of the scheme being open. In total, claims of over £1.3 billion were made by 440,000 individuals through the Self-employment Income Support Scheme (SEISS) on 13 May, according to the […]
BCC survey suggests firms ready for gradual reopening of UK economy
The latest Coronavirus Business Impact Tracker survey carried out by the British Chambers of Commerce (BCC) has suggested that UK businesses are ready for a gradual reopening of the UK economy and will ’embrace the new normal’. According to the BCC, the vast majority of survey respondents reported high levels of readiness to restart operations […]
Loan size increased to £200 million under large business interruption scheme
The government is extending the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million. The loans will be made available to large businesses affected by the coronavirus (COVID-19) from 26 May. However, companies borrowing more than £50 million through the CLBILS will be subject to restrictions on […]
Government set to launch Coronavirus Statutory Sick Pay Rebate Scheme
The government is set to launch an online service to allow employers to recover the Statutory Sick Pay (SSP) payments they have made to their employees during the coronavirus (COVID-19) pandemic. The Coronavirus Statutory Sick Pay Rebate Scheme, which was announced at the 2020 Budget as part of a package of support measures for businesses […]
Future Fund launches to give start-ups coronavirus support
The government has launched its Future Fund package, which aims to support start-up businesses not eligible for other coronavirus (COVID-19) rescue measures. The Future Fund offers government loans of between £125,000 and £5 million to UK-incorporated companies, provided private investors at least match the funding supplied by the state. The package is aimed at innovative […]
IPSE urges government to extend self-employed support scheme
The government is being urged to extend its coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) for as long as self-employed individuals require it. The Association of Independent Professionals and the Self-Employed (IPSE) said that the difference between the SEISS and the Coronavirus Job Retention Scheme (CJRS) for employees is a ‘glaring injustice’. It warned that […]
Survey suggests one in ten firms cannot implement coronavirus guidance safely
A survey carried out by the British Chambers of Commerce (BCC) has suggested that one in ten UK businesses feel they cannot implement government coronavirus (COVID-19) guidance safely. Results from the BCC’s latest Coronavirus Business Impact Tracker revealed that 83% of businesses polled know some or a lot of details about government guidance on working […]