The Prime Minister has recently announced that the following schemes will all be extended to 31 January 2021:

 

• Coronavirus Business Interruption Loan Scheme (CBILS)
• Coronavirus Large Business Interruption Loan Scheme (CLBILS)
• The Bounce Back Loan Scheme (BBLS)
• Future Fund

 

Additionally, it has been confirmed that businesses will be able to top-up their bounce back loans if required.

 

Self employed

 

For individuals that are self-employed the government has agreed to extend the Self-Employment Income Support Scheme with a third instalment whereby individuals will receive 80% of their average trading profits for November. Applications for the third instalment are expected to open towards the end of November.

 

If you have any questions about any of government announcements, please contact us or visit the HMRC website here.