Failing to extend existing support will “stunt economic recovery”.
CBI calls for further COVID-19 support
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Current Affairs
1 in 3 house sales collapse as stamp duty deadline looms
29% of proposed purchases fell through in January.
FSB: Govt. must extend business rates relief to 2022
The organisation is urging for the threshold to be changed.
Firms get more time to repay bounce-back loans
Repayments can be spread over ten years, rather than six.
COVID-19 business lending passes £71bn
Around 1.4m firms have accessed BBLs since May 2020.
1.8 million taxpayers still to file self-assessment returns
Over 10.7 million people submitted their 2019/20 return by the deadline.
CBI calls for post-lockdown roadmap
The business group identified six elements to help firms prepare.
Extend furlough scheme to summer, warns BCC
Around four million UK workers were furloughed at the end of December.
Over 900,000 UK firms ‘at risk of failing by April’
Around 15% of businesses are at “great risk” of imminent closure
IFS: UK tax system ‘discourages employment’
Employees’ salaries currently attract more in tax than self-employed individuals.
Firms call for urgent action to reduce unemployment
Unemployment increased to 5% in the three months to November 2020.
HMRC waives penalties for late-filed tax returns
Fines to kick in after 28 February 2021.
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