The extension of the Coronavirus Job Retention Scheme (CJRS) was announced by Chancellor Rishi Sunak less than two weeks ago and the latest guidance has circulated from HMRC.
Firms with a turnover of more than £45m can apply for up to £25m of finance, while firms with a turnover of more than £250m, including those that exceed £500m, can apply for up to £50m.
The Bounce Back Loan top-up will be available from several large lenders, with others anticipated to make the top-up available in due course.
The Future Fund will support the UK’s innovative businesses currently affected by Covid-19 and unable to access other Government business support programmes. It will provide UK-based early stage companies with convertible loans between £125,000 and £5 million.
The Business Interruption Loan Scheme gives businesses access to bank lending, overdrafts and other finance solutions to help them through the current crisis.
England will enter a four-week lockdown on Thursday, shutting pubs, restaurants and non-essential shops .The Treasury is drawing up new support for the self-employed to try to allay business concerns, and has also extended the furlough scheme
Chancellor Rishi Sunak last week announced additional funding to support cash grants for businesses in tier 2 and tier 3 lockdown areas.
Prime Minister Boris Johnson has today announced further restrictions in an attempt to curb the growing spread of Covid-19 across the UK. While many areas are still under stricter local measures, business will now risk a £10,000 fine and even closure if they breach regulations as staff and customers in indoor hospitality must now wear face coverings. More...