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…

The Government has announced a further scheme to support businesses through the Coronavirus crisis. The Coronavirus Large Business Interruption Loan Scheme (CLBILS) is aimed at large businesses with annual turnovers of between £45 million and £500 million. These businesses cannot access facilities through the Coronavirus Business Interruption Loan Scheme (CBILS), which is limited to companies…