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Extended leave and business loan programs

Today, December 17, the Chancellor announced that the leave will be extended until the end of April 2021. For the time being, the leave scheme will remain at full rate, with the government continuing to contribute 80 percent of wages, however, Rishi Sunak suggested he would review employer contributions in January.

The eligibility criteria for the UK-wide leave scheme will remain unchanged and these changes will continue to apply to all decentralized administrations. Extending the program until the end of April means businesses across the country will have confidence in the support available to them.

Government-guaranteed COVID-19 business loan programs will also be extended until the end of March. This includes the Bounce Back Loan Program, the Coronavirus Business Interruption Loan Program and the Coronavirus Large Business Interruption Loan Program which were all scheduled to close in January.

Looking ahead, it has also been confirmed that the budget will be on March 3, 2021 where the government will define the next phase of the plan to fight the virus and protect jobs.

What loan programs are available for businesses?

For more information on financial support during the coronavirus pandemic, the government website provides a summary of what is currently available, including the Bounce Back loan program and the business interruption loan program mentioned above. -above.

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