JOB RETENTION SCHEME, LOAN TOP-UPS, TAX BREAK EXTENSION AND KICKSTART SCHEME
key update from John Bridge OBE DL

Coronavirus Job Retention Scheme (CJRS) portal live

Following last week's announcement of a five-month extension of the Coronavirus Job Retention Scheme until 31 March 2021, employers can now make claims for the scheme. 

The extended CJRS will operate as the previous scheme did. An employer can make their claim in anticipation of an imminent payroll run, at the point they run their payroll or after they have run their payroll.
Bounce Back Loan Scheme top-ups open for eligible businesses
TopUp.jpg
Businesses can now ‘top-up’ their existing Bounce Back Loans if they previously borrowed less than 25% of their turnover.


UK government extends £1 million tax break

A £1 million tax break to stimulate investment in UK manufacturing,  to support business confidence, is to be extended, HM Treasury has announced today. 

Businesses, including manufacturing firms, can continue to claim up to £1 million in same-year tax relief through the Annual Investment Allowance (AIA) for capital investments in plant and machinery assets until 1 January 2022. The extension of the temporary £1 million cap was originally due to revert to £200,000 on 1 January 2021.


Kickstart Scheme

For information today, HM Treasury released a press notice on Kickstart which features a comment from British Chambers Director of Policy. The British Chambers also feature in a BBC article published this morning with the key message that the application process needs to be simplified.

We will continue to keep you updated on the Kickstart Scheme and details of our upcoming event on 19 November can be found here


Contact the Chamber

01223 237414 •  enquiries@cambscci.co.uk
Cambridgeshire Chamber of Commerce
Clifford House • 2 Station Yard • Oakington • CB24 3AH • United Kingdom
www.cambridgeshirechamber.co.uk