Further Covid-19 support announced by the government

UPDATE: Please note further changes to the Job Support Scheme have now been announced. Please see here for more information on these developments. The government has also now announced an extension to the CBILS deadline. Businesses wishing to apply have until 31 January 2021.

Chancellor Rishi Sunak has announced further financial support from the government to help businesses and individuals that have been negatively affected by Covid-19.

He introduced the government’s Winter Economy Plan including a new Job Support Scheme to replace the existing furlough scheme, as well as tax cuts and deferrals. The Chancellor also announced an extension to the application deadline for the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the Bounce Back Loan Scheme (BBLS) and the Future Fund.

Here are the key points from the announcement:

If you need any help understanding what these changes could mean for your business, please get in touch.

We will update our advice and guidance as more detail is provided on the support announced, please keep an eye on our news & insights page or follow us on LinkedIn for the latest updates.

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The COVID-19 crisis is rapidly evolving and the Government’s response and the details of support on offer are continuously changing. We’ll be updating our posts regularly to ensure our analysis and advice remains as accurate and useful as possible. To receive the very latest information as we release it follow us on LinkedIn. If you have any questions in the meantime, please get in touch.