Recovery Loan Scheme

A new loan scheme to support access to finance for UK business as they grow and recover from the disruption of the COVID-19 pandemic. 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, providing support as businesses recover and grow following the disruption of the pandemic and the end of the transition period. 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 lender to ensure they continue to have the confidence […]

Budget Update – 3 March 2021

Furlough will continue until September, with no change of terms. After July, businesses will be asked for a 10% contribution, rising to 20% in August and September.Support for the self-employed will also continue until September. 600,000 self-employed people excluded from the government’s support package so far will be able to claim direct cash grants as part of an extension to the SEISS.The National Living Wage will rise to £8.91 from AprilThe 5% reduced rate of VAT will be extended for six months to 30 September followed by interim rate of 12.5% for another six months. The standard rate will not return until April next year.Contactless Payment – From today, the […]

Additional funding for Hospitality, Leisure and Tourism businesses

The Welsh Government has today announced a further £30 million for hospitality, leisure and tourism businesses affected by ongoing coronavirus restrictions.It has also confirmed that pending the outcome of the next review on 12 March, a further £150 million in grants could be made available to firms, including micro businesses, through the Welsh Government’s Non Domestic Rates (NDR) scheme if coronavirus restrictions are extended. https://gov.wales/additional-funding-hospitality-leisure-and-tourism-businesses