Government Initiatives

Spring Budget 2021

Firms get more time to repay bounce-back loans

Repayments can be spread over ten years, rather than six.

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HMRC waives penalties for late-filed tax returns

Fines to kick in after 28 February 2021.

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Big businesses to reduce payment times to small suppliers

50,000 small firms close every year due to late payments.

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Chancellor unveils £4.6bn support package

Firms will be able to receive up to £9,000.

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Exporting SMEs get funding boost

The Government and five banks launch £25m post-Brexit scheme.

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UK economy to contract by 11.3% in 2020

The OBR predicts the economy will grow by 5.5% in 2021.

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BoE injects £150bn into UK economy

Stock of Government bonds will increase to £875 billion.

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Government extends furlough scheme

Extension initially in place until 30 November 2020.

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Chancellor to hold Spending Review in November

Treasury to set out spending plans for 2021/22.

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