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Winter is coming
Key points
- Job support and self-employed income support schemes are extended.
- VAT reduction for hospitality and tourism sectors continues.
- Deferred VAT and self-assessment tax liabilities to have longer payment periods.
- Easier terms for repayment of government-backed loans.
- Bounce back and coronavirus business interruption loans have improved terms.
Apparently the coronavirus is mutating and so it seems is the government’s support for the economy. On 24 September – following an announcement that there would not be an autumn Budget for 2020 – the chancellor Rishi Sunak announced the latest package of government support. These measures are to support business during the restrictions being imposed to limit the expected upswing in coronavirus cases: ‘Plans that seek to strike the finely-judged balance between managing the virus and protecting the jobs and livelihoods of millions.’
The measures were summarised in the Winter Economy Plan (tinyurl.com/y6dpclyq) as...
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