Wayne Thomas, partner at Bates Weston, looks at the cashflow pressures that are mounting for businesses.
Chancellor extends furlough scheme until the end of April 2021 and Covid-19 business loan schemes extended until the end of March.
Chancellor announces an extension in the CJRS (furlough scheme) to the end of March 2021 and increases the self employment Income Support Scheme level of support grant from 55% to 80% of average monthly trading profits.
Level of income support available to the self-employed through the third SEISS (Self Employment Income Support Scheme) grant increased to 55% and claim date brought forward to 30 November.
The Coronavirus Job Retention Scheme has been extended and grants are available for businesses required to close due to local or national restrictions.
An outline of the expanded Job Support Scheme and enhanced local lockdown grants announced by the Chancellor today – 9 October.