BCC comments on start of formal UK/US trade negotiations
Take a look at our response to the news that the UK and US are to open formal negotiations on a future free trade agreement. Share with your members on Twitter and LinkedIn.
Self Employed Income Support Scheme – update
HM Revenue and Customs (HMRC) has updated their guidance on the SEISS:
| • | HMRC is now contacting people who may be eligible for the SEISS |
| • | The claims service will open on 13 May |
| • | Applications will open in tranches based on the UTR number |
| • | Those eligible will have the money paid into their bank account by 25 May, or within six working days of completing a claim. |
People who may be eligible can now go online to check their eligibility. Take a look at the details here.
Bounce Back Loan Scheme (BBLS) now open for applications
The Bounce Back Loan scheme will offer loans from £2,000 up to 25% of a business’ turnover or £50,000, whichever is lower. The UK government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. The government has then set the interest rate for this facility at 2.5% per annum for subsequent years. No repayments will be due during the first 12 months. Length of the loan is for six years. There will be a short, standardised online application to apply for a loan. The scheme can be accessed through a network of accredited lenders. More information is available on our Coronavirus hub.