Rishi Sunak has taken further action to support firms affected by Coronavirus. He has revised the Coronavirus Business Interruption Loan Scheme (CBILS) and announced a new scheme for larger companies. The expanded CBILS will be offered by lenders from Friday 3 April 2020 and operational from Monday 6 April 2020. Friday, 3 April, Chancellor...
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The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the current rate of SSP that they pay to current or former employees for periods of sickness starting on or after 13 March 2020. The employer who pays more than the current rate of SSP can only claim the current rate amount. The repayment will...
The government has made some changes to the support available through working tax credits and universal credit which will provide some help to the self-employed. Increases in the standard rates The standard rate for universal credit and tax credits will both increase by £20 a week for one year from 6 April 2020. This increase...
Chancellor Rishi Sunak has announced an extraordinary Coronavirus wage bailout fund to support UK workers hit by Coronavirus crisis. The government will pay up to 80%, or £2,500, of the salaries of British workers affected by Covid-19 in a major wage bailout. Mr Sunak stated in a speech: “Employers will be able to contact...
Last night, the Chancellor announced a far-reaching package of measures to allow businesses in this country to stand by their employees at a time of Covid-19 national emergency. Such practical business advice to keep people in employment is a really good start. Governemt is still working on much of the detail and we expect more...
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