EMERGENCY GOVERNMENT ASSISTANCE TO BUSINESSES, EMPLOYERS AND EMPLOYEES

The chancellor has announced major help initiatives:

1] Business loans to help businesses survive - 12 months interest free loans.

2] VAT payment deferral - businesses do not have to pay VAT for the quarter from now to middle of June till the end of the financial year

3] 80% of salaries covered for employees up to a maximum of £2,500 per months - employers can top this up if they wish/ can afford it

https://www.gov.uk/government/speeches/the-chancellor-rishi-sunak-provides-an-updated-statement-on-coronavirus