The Chancellor has tonight made announcements which are great news for employers and employees. The Government will subside 80% of staff wages, if employers cannot find work for them and would otherwise lay them off. The details of how to apply are yet to be announced, but this will come as a welcome relief for many businesses facing difficult decisions.
In addition, all VAT payments due between now and June will be deferred until the end of the year.
The Government had previously announced that business interruption loans would be interest free for 6 months, this has now been extended to 12 months.
If you require any assistance please feel free to get in touch, we will continue to keep everyone up to date as further clarification is given.