As the furlough scheme comes to an end, the latest figures have revealed that almost 12 million workers in England, Wales, Northern Ireland and Scotland have been supported by the Coronavirus Job Retention Scheme (CJRS) since its launch last year. Read More
The number of people returning to work from furlough has reached its highest level since the start of the pandemic in March, the latest figures have revealed.
HM Revenue & Customs (HMRC) has clarified its guidance for members of partnerships claiming the fifth Self Employment Income Support Scheme (SEISS) grant.
A Government-backed insurance scheme will support the events and hospitality sector recover in the wake of the coronavirus pandemic, it has been revealed.
Businesses borrowed almost £80 billion in emergency loans and finance facilities throughout the coronavirus pandemic, a major study has revealed.
The Federation of Small Businesses (FSB) calls on the Government to offer more economic support to small and medium enterprises (SMEs) as coronavirus-related limits continue and fewer financial packages are being handed out. Read More
Businesses affected by Coronavirus can still access the Recovery Loan Scheme (RLS) launched in April, despite the closure of applications for other Government loan schemes, including the Coronavirus Business Interruption Loan Scheme (CBILS).
The RLS opened for application on 6 April 2021, following the closure of several other Government loan schemes on 31 March 2021.
Finance worth up to £10 million, backed by a Government guarantee is available in the form of:
Personal guarantees are not required for loans of less than £250,000 but can be for loans above this level at the lender’s discretion, although not over Principal Private Residences.
Crucially, businesses that have already accessed CBILS, the Coronavirus Large Business Interruption Loan Scheme (CLBILS) or the Bounce Back Loan Scheme (BBLS) can still access the RLS, although amounts borrowed under previous schemes could affect the amount they can borrow under the new scheme.
The RLS will close on 31 December 2021.
Some 2.8 million people took advantage of the Self-Employment Income Support Scheme (SEISS) in the last year, the latest figures have revealed.
As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed. Read More
The Government is being urged to extend emergency coronavirus support in the upcoming Budget with a recent study warning that businesses face a £50 billion shortfall when the support measures end in April 2021. Read More