The Coronavirus Business Interruption Loan Scheme (CBILS) allows businesses to access bank lending and overdrafts of up to £5m over 6 years.
Potential tax changes could help smaller businesses losing out in the future
Owners of newly formed limited companies may be unlikely to be eligible for the Self Employed Income Support Scheme (SEISS) grant.
The government announced that an extra £617 million will be made available to help small businesses who share office space and didn’t qualify for the business grant funds scheme.
The UK government has announced a 6.2% increase in the National Living Wage (NLW) which will come into force on 1 April 2020.
HMRC has confirmed that the current rules on trade, travel, and business will continue to apply until the end of the Brexit transition period on 1 January 2021.