The temporary Annual Investment Allowance (AIA) will be extended until 01 January 2022 to “stimulate investment in UK manufacturing”, it has been announced.
Payment holidays on credit cards, car finance, personal loans and pawned goods have been extended following the Government’s announcement of a second lockdown from Thursday 5 November.
The Government’s UK Export Finance (UKEF) scheme has now been extended to support international trade in more than 100 countries, it has been announced.
The Government’s spending watchdog, the National Audit Office (NAO), has warned that up to 60 per cent of businesses may not pay back the 100 per cent Government-backed Bounce Back Loans Scheme (BBLS) because of fraudulent applications and minimal credit checks.
According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August.
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS).
The second stage of the Self Employment Income Support Scheme (SEISS) is now open, and applications must be submitted before the deadline on Monday 19 October 2020.
The Government has announced that tourism providers in England and Wales can now apply for a share of a £10 million rescue package designed to support the sector.
UK businesses are owed more than £133 billion since the lockdown measures began in March, with the average business waiting on £148,917 for work that was completed before the lockdown.
The Government’s Bounce Back Loans Scheme has provided more than £23 billion in finance to more than 780,000 businesses, according to the latest research.