Bounce Back Loan – new payment flexibilities
Bounce Back Loan borrowers will now have the option to tailor payments according to their individual circumstances.Pay as You Grow repayment flexibilities now provide businesses with the following options to:
- Extend the length of the loan from six years to ten
- Make interest-only payments for six months, with the option to use this up to three times throughout the loan
- Pause repayments entirely for up to six months
The scheme is open to applications until 31 March 2021.Apply for a coronavirus Bounce Back Loan.
Find out how to pay VAT payments deferred between 20 March and 30 June 2020
You can pay now or get ready to join the VAT deferral new payment scheme. The new scheme lets you pay your deferred VAT in equal instalments, interest free and choose the number of instalments, from 2 to 11 (depending on when you join). Find out more here.
Coronavirus Job Retention Scheme
Guidance on ‘What to include when calculating wages’ has been updated to give more information about non-monetary benefits and employer pension contributions under salary sacrifice.
Payment of Class 2 National Insurance contributions through a Time to Pay arrangement
Guidance has been updated, with added information about payment of Class 2 National insurance contributions, through a Time to Pay arrangement, and paying in instalments. |