In just a few weeks, the Corporate Insolvency and Governance Act was rushed through Parliament (achieving royal assent on 25 June 2020), introducing a number of protections and procedures aimed very squarely at facilitating restructuring and saving businesses. Among these…
Changes have been announced to the EU State Aid ‘Undertaking in Difficulty’ test from the end of July, therefore increasing access to the Coronavirus Business Interruption Loan Scheme (CBILS). This test is important as it has been the reason for…
HM Treasury recently announced that “More start-ups and innovative firms will be able to apply for investment from the government’s Future Fund.” This was due to a change in the eligibility requirements: “UK companies who have participated in highly selective…
Providing the latest statistics on the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interuption Loan Scheme (CBILS), Large Business Coronavirus Business Interuption Loan Scheme (CLBIS) and the Future Fund. This piece is designed to accompany background information on CBILS ,…
The 2020 Small Business Equity Tracker report, which provides an in-depth assessment of equity finance markets for growing businesses has recently been released. The report, which is published by the British Business Bank can be found via link. I have…
The Chancellor’s summer economic update contained targeted measures aimed at supporting tourism and hospitality businesses as they get back on their feet after lockdown. The temporary VAT reduction to 5% is clearly very welcome for the leisure and tourism industry,…
The Chancellor has announced a temporary cut in the VAT rate to 5% for certain supplies in the leisure and tourism sector. The aim of the change is to boost the economy and encourage consumer spending in the sector. However…
Whilst the South West has so far had relatively little incidence of Covid-19, it is forecast to be financially one of the worst affected parts of the UK. In part this is due to the dependence of the economy on…
The most generous of the schemes announced in the summer economic update is the Kickstart Scheme. This has been designed to help 16- to 24-year-olds into work through the creation of high quality six-month work placements. The success of the…
As widely anticipated, in a move to boost confidence in the property market and increase momentum in property transactions, Rishi Sunak has today announced temporarily reduced rates of Stamp Duty Land Tax (SDLT) on residential property purchases. The key measures…