The government has extended the four existing loan schemes for businesses adversely affected by the coronavirus (bounce back loans, business interruption loans, large business interruption loans and future fund) for new applications to 30 November 2020.

The Chancellor has announced approved additional funding to support cash grants of up to £2,100 per month primarily for businesses in the hospitality, accommodation and leisure sector who may be adversely impacted by the restrictions in high-alert level areas.

The Government has announced an increase to the amount of profits covered by the two forthcoming self-employed grants from 20 per cent to 40 per cent, meaning the maximum grant will increase from £1,875 to £3,750.

The Job Support Scheme (JSS) will open on 1 November and run for six months, until 30 April 2021. The government has said it will review the terms of the scheme in January 2021. There are two variations to JSS – JSS Open and JSS Closed.