DCMS launched their “UK Gigabit Voucher” scheme on 8 April. This was announced the previous month as part of the wider £5bn ‘Project Gigabit’ programme. This new voucher scheme builds on the Rural Gigabit Voucher Scheme and is aimed providing micro grants of up to £1,500 for households and £3,500 for businesses in the hardest to...
The Restart Grants Scheme launched on 1 April. The Restart Grants are for Local Authorities to support businesses that fall outside the business rates system with additional cash. As part of this launch, Ministers Paul Scully and Nigel Huddleston have sent a joint letter to Local Authority CEOs which encourages them to distribute the funding to businesses...
Pioneering research into battery technology, the electric vehicle supply chain and hydrogen vehicles is to be backed by over £30 million of government funding. There will be £9.4 million of government funding for 22 studies to develop innovative automotive technology, including hydrogen vehicles and a lithium extraction plant. There is a further £22.6 million commitment...
The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing COVID-19 loan schemes close. Once received, the finance can be used for any legitimate business purpose, including growth and investment. The government guarantees 80% of the finance...
There has been an update to the guidance to businesses claiming under the Coronavirus Job Retention Scheme (CJRS), to explain that earliest that they can make a claim for May 2021 is 19 April 2021. A new section has also been added regarding the ability to claim for employees that have caring responsibilities. This states that employee...
Applications for CBILS, CLBILS and BBLS loans end on 31 March 2021 and are being replaced by the new Recovery Loan Scheme, which will run until 31 December 2021, to ensure that businesses can access Government-backed finance during the reopening of the economy. With the end of the old loan schemes the Government has announced...
The Additional Restrictions Grant (ARG) guidance has been updated to include the additional £425m announced in the Budget. This funding will be allocated from 1 April 2021. While the conditions for the new ARG round are essentially the same as previously, it is worth noting that previous guidance for the Additional Restrictions Grant indicated that...
The trading loss carry-back rule will be temporarily extended from the existing one year to three years, it was announced in the March Budget. This will be available for both incorporated and unincorporated businesses. Unincorporated businesses and companies that are not members of a corporate group will be able to obtain relief for up to...
Business rates relief In Wales – holiday extended The Welsh Government has announced that their business rates holiday has been extended for 12 months. This applies to the retail, leisure and hospitality businesses with rateable values up to £500k – read more here. Additional £30m for the Economic Resilience Fund The latest round of the...
The Government has published its Build Back Better strategy for rebuilding the UK economy. It contains six key themes: Infrastructure Skills Innovation Levelling Up Net Zero Global Britain You can read more here. Furlough extended to September The Coronavirus Job Retention Scheme (CJRS) is to be extended until the end of September, at the current...