Over the Easter Weekend, the Government published a further update to its guidance on the operation of the Coronavirus Job Retention Scheme (CJRS). The CJRS allows employers to retain employees on the PAYE Payroll who are not carrying out work for them by placing them on furlough and to claim a grant of 80 per…

The Welsh Government has released new information on the Economic Resilience Fund, which is designed to provide additional financial support during the Coronavirus pandemic. The fund is due to release £200 million of funding to microbusinesses, SMEs and large businesses of critical social or economic importance to Wales. It is the second stage of funding…

HM Revenue & Customs (HMRC) has confirmed that the online portal for applications to the Coronavirus Job Retention Scheme (CJRS) will open on Monday 20 April 2020. The CJRS provides grants worth 80 per cent of a furloughed employee’s salary up to a cap of £2,500 a month, plus Employers’ National Insurance Contributions (NICs) and…

The Financial Conduct Authority (FCA) is fast-tracking new measures that will force banks to freeze loans and credit card payments for up to three months to help those individuals whose finances are affected by the Coronavirus outbreak. The measures should be in force by 9 April 2020 and will include: A three-month repayment freeze on…

The Government has made several amendments to the Coronavirus Job Retention Scheme (CJRS), which was first announced by Chancellor, Rishi Sunak on 20 March, immediately after the Prime Minister ordered the closure of pubs, restaurants and bars. The scheme is intended to reimburse up to 80 per cent of the wage costs (capped at £2,500…