More than £7.8 billion in grant funding has been delivered to small businesses through local authority grant schemes, it has been revealed.
Small and medium-sized enterprises (SMEs) will have access to a new independent service to assist in resolving disputes with banks.
As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed.
Pubs that principally serve alcohol in tier two and three areas are set to receive additional financial support over the Christmas period following an announcement by the Government.
The temporary Annual Investment Allowance (AIA) will be extended until 01 January 2022 to “stimulate investment in UK manufacturing”, it has been announced.
Payment holidays on credit cards, car finance, personal loans and pawned goods have been extended following the Government’s announcement of a second lockdown from Thursday 5 November.
The Government’s UK Export Finance (UKEF) scheme has now been extended to support international trade in more than 100 countries, it has been announced.
The Government’s spending watchdog, the National Audit Office (NAO), has warned that up to 60 per cent of businesses may not pay back the 100 per cent Government-backed Bounce Back Loans Scheme (BBLS) because of fraudulent applications and minimal credit checks.
According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August.
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS).