DCMS launched their “UK Gigabit Voucher” scheme on 8 April. This was announced the previous month as part of the wider £5bn ‘Project Gigabit’ programme. This new voucher scheme builds on the Rural Gigabit Voucher Scheme and is aimed providing micro grants of up to £1,500 for households and £3,500 for businesses in the hardest to...
The Restart Grants Scheme launched on 1 April. The Restart Grants are for Local Authorities to support businesses that fall outside the business rates system with additional cash. As part of this launch, Ministers Paul Scully and Nigel Huddleston have sent a joint letter to Local Authority CEOs which encourages them to distribute the funding to businesses...
The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing COVID-19 loan schemes close. Once received, the finance can be used for any legitimate business purpose, including growth and investment. The government guarantees 80% of the finance to the...
First Minister Nicola Sturgeon has announced £25m of funding to support the tourism sector’s recovery from COVID-19. The programme, which has been developed by the Scottish Tourism Emergency Response Group (STERG) in partnership with businesses, will support the Scottish Tourism Recovery Taskforce objectives. The recovery programme includes: a holiday voucher scheme to create a more...
There has been an update to the guidance to businesses claiming under the Coronavirus Job Retention Scheme (CJRS), to explain that earliest that they can make a claim for May 2021 is 19 April 2021. A new section has also been added regarding the ability to claim for employees that have caring responsibilities. This states...
Applications for CBILS, CLBILS and BBLS loans end on 31 March 2021 and are being replaced by the new Recovery Loan Scheme, which will run until 31 December 2021, to ensure that businesses can access Government-backed finance during the reopening of the economy. With the end of the old loan schemes the Government has announced...
The Welsh Government has published an outline tourism recovery plan, Let’s Shape the Future for the tourism industry in Wales. Developed in consultation with the Tourism Taskforce, the plan includes a shared partnership framework of essential themes around which interventions will be built to support businesses through short to medium-term recovery. The 8 essential themes...
Government has now published its guidance for Local Authorities on the Restart Grants and the new £425m ARG grant (England). Restart Grants The restart grants are available to non-essential retail businesses and businesses in the hospitality, accommodation and leisure sectors. The rates that apply for such businesses are: £8,000 for businesses with a rateable value...
Conor Murphy, the Minister of Finance in the Northern Ireland Assembly, has made a statement update the House on further schemes that his Department will deliver to provide financial support to businesses that have been affected by the COVID-19 pandemic. The Executive has now agreed to a number of support schemes, which “will be implemented rapidly to make...
The trading loss carry-back rule will be temporarily extended from the existing one year to three years, it was announced in the March Budget. This will be available for both incorporated and unincorporated businesses. Unincorporated businesses and companies that are not members of a corporate group will be able to obtain relief for up to...