In yesterday’s daily Coronavirus update, the Chancellor announced further measures to protect businesses and their employees. These include:

  • The next quarter of VAT payments for firms will be deferred until the end of June
  • The government will pay grants of 80% of wages for employees not working, up to £2,500 a month, more details of the specifics of how this will work to follow
  • Self-assessment income payments would be deferred
  • Business interruption loans would be interest fee for 12 months, rather than the six months previously announced

We will be issuing further  details on the support available for businesses.

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