Majority of support has been provided through the bounce-back loan scheme.
1.6m UK firms supported by COVID-19 schemes
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Current Affairs
Sunak to unveil new mortgage scheme
Buyers will just need a 5% deposit on houses up to £600,000.
Furlough numbers increase in January
4.7 million people furloughed on 31 January 2021.
Sunak expected to extend stamp duty holiday
The threshold has been temporarily increased to £500,000.
HMRC waives 5% late payment penalty
Payments should be made by 1 April 2021 to avoid fine.
Treasury delays business rates review
Report pushed back due to pandemic uncertainty.
HMRC confirms 12-month ‘soft landing’ for IR35
New reforms to go ahead as planned on 6 April.
IFS: Sunak should look to the Budget to secure recovery
The Budget will be delivered on 3 March 2021.
IPPR: 600,000 firms could collapse without further support
Up to nine million jobs may be affected without an extension.
VAT reverse charge reminder
The charge comes into effect from 1 March 2021.
Record annual slump for UK economy in 2020
COVID-19 prompts UK GDP to fall by 9.9%.
Govt. unveils £20m SME Brexit support fund
The grants are worth up to £2,000.
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