There have been many recent developments in respect of the financial support available due to the ongoing Coronavirus pandemic.
The UK government introduced a further package of targeted measures on 24 September 2020 within the Chancellor’s Winter Economy Plan in attempt to protect jobs and support businesses to manage their finances in times of uncertain demand.
The Winter Economy Plan included measures such as:
- The Job Support Scheme
- An extension to the Self Employed Income Support Scheme
- An extension to the reduced rate of VAT for the hospitality and tourism sector
- An extension to the application period for four of the government backed loan schemes and changes to the terms of the Bounce Back Loan Scheme
There have also been further measures announced by the NI Executive to support those businesses which have been required to close or have been severely impacted by the recent restrictions which were announced on 16 October 2020. This includes the Local Restrictions Support Scheme and the Covid Restrictions Support Scheme.
Due to the volume of this information, we have provided a brief overview of each of the support packages recently announced, together with a relevant link if you wish to access further information.
Alternatively, if you wish to discuss any of the schemes with us or require any assistance with applications, please do not hesitate to contact us on 028 417 64540.
Please also note that as the situation continues to evolve on a day by day basis, the information attached is subject to change.