Chancellor unveils three-point plan for jobs
On 8 July, Chancellor Rishi Sunak announced a three-point plan to support jobs in the wake of the COVID-19 pandemic when he delivered a Summer Economic Update to Parliament. Mr…
Flexible furloughing starts on job retention scheme
On 1 July, changes to the Coronavirus Job Retention Scheme (CJRS) saw flexible furloughing introduced, so employees will no longer have to be furloughed for a minimum period of three…
Government expands aid for start-ups and innovators
The government has expanded its COVID-19 support for start-ups and innovative companies with the launch of a new fund. On 27 June the government announced the Sustainable Innovation Fund (SIF),…
Private sector off-payroll reforms given go ahead for April 2021
The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them failed in the House of Commons. The reforms…
Late payment crisis has worsened during coronavirus lockdown
The Federation of Small Businesses (FSB) has found that the UK’s late payment crisis has worsened during the coronavirus (COVID-19) lockdown. 62% of small businesses have been subject to late…
Summer statement
As the impact of Coronavirus continues to affect the economy, Chancellor Rishi Sunak announced a number of measures in the house of Commons on 8 July 2020 which are summarised…
COVID-19: delay to VAT reverse charge on construction services
On 5 June 2020, HMRC announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the COVID-19 pandemic on…
Loan size increased to £200 million under large business interruption scheme
Several changes to the CLBILS scheme have taken effect from 26 May. The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS)…
Future Fund launches to give start-ups coronavirus support
On 20 May 2020, the government launched its Future Fund package, which aims to support start-up businesses not eligible for other COVID-19 rescue measures. The Future Fund offers government loans…
Changes to insolvency and company law going through Parliament
The government is making changes to insolvency and company law as a result of the COVID-19 pandemic. The Corporate Insolvency and Governance Bill outlines that struggling companies will be given…
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