BCC responds to UK Finance’s update on Coronavirus Business Interruption Loan Scheme applications
Take a look at our response to UK Finance’s latest figures on the number of firms successfully accessing CBILS. Share with your members on Twitter and LinkedIn.
Update on tax policy consultations
HM Treasury and HM Revenue and Customs (HMRC) have set out new timelines for tax policy consultations and other work in the light of the current Coronavirus crisis. This includes a three-month extension to a number of consultations. However, the UK government will also continue to push ahead with a number of other tax policy consultations over the spring and summer, including the call for evidence for the fundamental review of Business Rates.
Treasury cut taxes to reduce PPE costs
From today, Personal Protective Equipment (PPE) purchased by care homes, businesses, charities and individuals in the UK to protect against Coronavirus will be free from VAT for a three-month period.
| • | A zero-rate of VAT will apply to sales of PPE for Coronavirus from 1 May – 31 July 2020. |
| • | The move will save care homes and businesses more than £100 million. |
| • | This comes after import duty was also removed from PPE. |
BCC giving evidence to the BEIS Select Committee – summary
Take a look at the summary notes of the evidence given by Adam Marshall to the Business, Energy and Industrial Strategy (BEIS) Select Committee yesterday as part of its inquiry into the impact of the Coronavirus on businesses and workers. Adam shares some reflections in the video below. The session is also available to watch back here.
Coronavirus mandate fraud
In response to the increased threat from mandate fraud during the Coronavirus outbreak, the UK government Counter Fraud Function has issued a mandate fraud guidance document which may be useful for you and your members. The guidance covers recent case studies, useful contacts and simple checks organisations can take to significantly reduce the likelihood of falling victim to it.
Your weekly roundup – 1 May
Take a look at your weekly roundup including a summary of recent updates, highlights of BCC engagement and activity this week. Share with your members and contact the BCC policy team with any queries.
BCC key policy asks and wins
Internal to Chambers of Commerce only, please review our tracker document of policy asks and wins. This is not exhaustive and is constantly evolving and updating. If you have any comments relating to the contents please contact the BCC policy team.