In yesterday’s daily Coronavirus update, the Chancellor announced further measures to protect businesses and their employees. These include:
- The next quarter of VAT payments for firms will be deferred until the end of June
- The government will pay grants of 80% of wages for employees not working, up to £2,500 a month, more details of the specifics of how this will work to follow
- Self-assessment income payments would be deferred
- Business interruption loans would be interest fee for 12 months, rather than the six months previously announced
We will be issuing further details on the support available for businesses.
To ensure you are kept in the loop, please sign up to our email newsletter here.