The Coronavirus Job Retention Scheme, announced by the Chancellor, is a temporary scheme open to all UK employers for at least three months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus. This is an overview of the scheme, which reflects the detail provided thus far.
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In business circles there is a sudden interest in the words "force majeure". Many commercial contracts include a clause about how to deal with the parties' obligations in the event of force majeure. So what does force majeure mean and how does it apply in the current situation?
A major concern for almost all businesses at the moment is the economic impact of the Coronavirus. The government recently announced a number of measures to provide businesses with additional financial support and to ease the tax burdens for the next few months.
With unprecedented conditions affecting employers in every single sector of the economy, we look at the responsibilities of employers and the assistance being made available to them during the Coronavirus outbreak.
Coronavirus update – have you asked your bank about the Coronavirus Business Interruption Loan Scheme?
Today sees the welcome news for UK businesses that The Coronavirus Business Interruption Loan Scheme (CBILS) is open to applicants. If you are an SME and concerned about your cashflows you may wish to check whether or not you can take advantage of CBILS.