Following calls from various stakeholders amid uncertainty around the ‘cliff edge’ of the Job Retention Scheme, the Chancellor has announced updates to the measure with an emphasis on greater flexibility and an extension to 31 October. 

HMRC have now provided clarity on the Self Employment Income Support Scheme (SEISS) and have started to contact eligible parties to advise on the claim process.

The Bounce Back loan scheme announced by the government last week is live as of today (4 May).

Interest Rates on Bounce Back Loans

Following criticism over difficulties faced by smaller business accessing CBILS loans, the Chancellor last night announced the government’s ‘Bounce Back’ loan scheme in response.

Following criticism that high-growth, start-up enterprise was not sufficiently protected in the wake of the Coronavirus outbreak, the government yesterday announced a £250m ‘Future Fund’ as the latest addition to the range of business support measures.

Over the weekend the Chancellor announced an extension to the Job Retention Scheme (i.e. the employee furlough scheme) in light of the extension to the current lockdown position.

Just a reminder that the application process for the government-backed Innovate UK grants for Coronavirus-specific projects closes this Friday (17 April) at midday.