Each day, the Government are making further announcements as to how they are helping the country with this unprecedented situation. We are also reviewing this on a daily basis and will continue to update our website with articles in order to assist our clients.
The Government has announced various support packages, some of which we have mentioned in previous articles, however, the key factors are:-
· Mortgage holidays for those in financial difficulties. It’s uncertain whether this will affect your credit rating.
· Additional loans, as we mentioned in a previous article.
· The extension of business rates relief for all firms in the hospitality sector.
· Funding grants for small businesses. There is some uncertainty about how to apply for these grants, and the British Chambers of Commerce has said that they need to work through the fine print.
There are various other areas that the Government is looking at, however, we will only report on these once they are factual.
Please ensure that you regularly check back on our website as articles will continue to be uploaded.