Covid-19 : Business Support 23.03.20 – Update 2
We have received a lot of queries in respect of the Coronavirus Job Retention Scheme which was announced by the Chancellor on Friday. To date HMRC have released a brief summary of the fund which provides limited detail in terms of how it will operate.
We have also spoken to HMRC this morning and they have confirmed that there is no further practical guidance available yet on the fund, and that any available detail is at https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19#history. HMRC has advised us that the website will be updated daily with any further information on the support measures, and that they will be taking calls next Monday 30th March to address any queries.
Once we receive any further information on the fund we will circulate to all of our clients. However, in the meantime if you have any specific queries can you please put these on email and we will ensure that these are then added to the requests for clarification. We will also remain available on the phone to assist you with any strategy planning or other queries you may have.
Coronavirus Business Interruption Loan Scheme
Furthermore, please note the Coronavirus Business Interruption Loan Scheme is now open, please refer to https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/.