Flexible furlough starts 1 July 2020. So far 9.3 million jobs have been furloughed through 1.1million employers and the total value of claims made is £25.5billion. We have developed a comprehensive July flexible claims model and are now in a position to calculate an estimate of claims ahead of actually making any claim. Please talk to us if you have any queries.
MORE FIRMS CAN NOW BENEFIT FROM THE FUTURE FUND
More start-ups and innovative firms will be able to apply for investment from the government’s Future Fund from 30 June:
Changes to the scheme’s eligibility criteria will mean that UK companies who have participated in highly selective accelerator programmes and were required, as part of that programme, to have parent companies outside of the UK will now be able to apply for investment.
To date, more than 320 companies have benefitted from £320 million of Future Fund support. Under the scheme, early-stage, high-growth businesses from a diverse range of sectors can apply for a convertible loan of between £125,000 and £5 million to help them through the Coronavirus outbreak.
EASING CORONAVIRUS HEALTH MEASURES AT THE UK BORDER
Exempting passengers from self-isolation requirements in certain circumstances on arrival in the UK.
On 8 June, regulations came into force across the UK requiring people arriving into the UK from outside the common travel area to self-isolate for 14 days, with the exception of those on a short list of exemptions.
The government will shortly begin to ease the health measures at the UK border, allowing passengers to be exempted from self-isolation requirements in certain circumstances on arrival in the UK. This will apply to international rail, maritime, and aviation.
The Joint Biosecurity Centre, in close consultation with Public Health England and the Chief Medical Officer, has developed a categorisation of countries and territories from which it is considered to present a lower risk from a public health perspective for passengers to enter the UK, without a requirement for 14 days’ self-isolation.
This has been informed by factors including the prevalence of coronavirus within the country and, crucially, the numbers of new cases and potential trajectory in the coming weeks of the disease in the country. This categorisation will inform ministerial decisions about the easing of the current border measures.
The Government will announce further details including a full list of the countries and territories from which arriving passengers will be exempted from self-isolation requirements later this week.
MANDATORY MOT TESTING TO BE REINTRODUCED FROM 1 AUGUST
MAJOR CHANGES TO INSOLVENCY LAW COME INTO FORCE
The Corporate Insolvency and Governance Act has received Royal Assent and came into force on 26 June 2020.
The Act is the largest change to the UK’s corporate insolvency regime in more than 20 years. It introduces new corporate restructuring tools and temporary easements to give distressed businesses the breathing space they need to get advice and seek a rescue.
One of its key provisions is the introduction of the new role of a Monitor to oversee the corporate moratorium it introduces – an extendable 20 working day period giving businesses protection from creditor action while they seek professional restructuring advice. A monitor must be a licenced insolvency practitioner and the Insolvency Service has provided guidance on their role and responsibilities. The Act also extends the suspension of termination clauses when a company enters into an insolvency procedure and introduces a new restructuring plan that has the ability to bind creditors to it.
The Act also provides temporary relief until 30 September 2020 from being subject to a winding up petition and from wrongful trading provisions where a business can demonstrate its difficulties arise from trading conditions arising from the COVID-19 pandemic. These easements are explained in more detail in a series of factsheets.
Changes to company filing and meeting requirements have also been introduced to relieve the burden on businesses during the pandemic and allow them to focus all their efforts on continuing to operate.
SAFER TRAVEL GUIDANCE FOR PASSENGERS
Walking, cycling, and travelling in vehicles or on public transport during the coronavirus outbreak.
The Government has updated its guidance for travellers during the outbreak. Contents include:
GUIDANCE ON THE PHASED RETURN OF SPORT AND RECREATION
Guidance for the public, providers of outdoor sport facilities, elite athletes, personal trainers and coaches on the phased return of sport and recreation.