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Four New Announcements From Sunak

UK

4 new schemes announced by Chancellor:

  • Pay as you grow: Pay as you grow means loans can be extended from 6 to 10 years businesses who are struggling can make interest only payments and apply to suspend repayments for up to 6 months
  • Gov't guarantee on covid-19 loans extended to 10 years, and deadline extended for all govt loan schemes to end year
  • VAT bill can be repaid by businesses under 11 smaller payments rather than 1 big payment in March
  • Hospitality and tourism VAT cut extended from Jan 13 to March 31

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