COVID-19: Furlough scheme extended
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Service: Tax Sector: Financial services
The various government-guaranteed business loan schemes – including the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and Coronavirus Large Business Interruption Loan Scheme – have also been extended, until the end of March 2021.
In addition, it has been announced that the next Budget will be held on 3 March 2021. We expect the Chancellor to use this opportunity to outline the next phase of Coronavirus support measures beyond April – and to start the process of raising taxes to pay for all of these initiatives.