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)…
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…
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…
The Public Accounts Committee (PAC) has opened an inquiry into the UK’s management of £155 billion of tax relief. The inquiry follows the February publication of a National Audit Office…
On 27 April 2020 the UK’s seven largest small business lenders announced they had relaxed their evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS). The lenders…
The UK government launched an online platform to help businesses access financial support during the COVID-19 crisis. The Coronavirus Business Support Finder Tool will guide businesses through the range of…
The Office for Budget Responsibility (OBR) has warned that the UK economy could shrink by 35% this quarter due to the COVID-19 crisis. The OBR said that the outcome was…
The Centre for Policy Studies (CPS) has suggested that government borrowing may rise to £300 billion in 2020 as a result of the COVID-19 pandemic. The think tank has been…
HMRC has published details of businesses that have failed to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. HMRC is also…
Prioritising HMRC over other creditors in insolvencies will have a ‘negative impact on the UK’s economic growth’, experts have warned Chancellor of the Exchequer Sajid Javid. The warning was issued…
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