Today’s bulletin focuses on:
- ‘Bounce Back’ loan scheme
- Department for Education skills toolkit
- Tax policy consultation extensions
- techUK events and webinars
techUK's dedicated mailbox is open for any queries, questions and concerns you may have.
Our third survey of the impact of COVID-19 on the tech sector remains open until Sunday 3 May. Please take five minutes to let us know how your business is dealing with COVID-19 and what support would help.
For more analysis and the latest guidance please visit techUK’s COVID-19 information hub which is updated daily.
‘Bounce Back’ loan scheme
The Treasury launched a new 100% Government backed loan scheme for small businesses, following criticism that existing support, including the CBLIS scheme, has a backlog of credit checks meaning SMEs will not receive funds in time.
Under the new scheme businesses will be able to apply for loans of between £2,000 and £50,000, interest free, with no repayments for the first 12 months. Unveiling the scheme the Chancellor reiterated he did not believe that 100% guarantees were appropriate for the larger CBLIS loans.
Department for Education skills toolkit
The Department for Education created a new online learning platform to boost workplace skills. The Skills Toolkit, which signposts people to high-quality digital and numeracy courses, aims to help build people's skills, progress in work, and boost their job prospects.
This approach is an important step forward as the impact of COVID-19 has shown how important digital skills are. techUK has previously called for establishing a digital learning pathway because we believe that everyone should be able to access resources to improve their skills and retrain at any age and at all skill levels.
Tax policy consultation extensions
The Treasury and HMRC set out new timelines for tax policy consultations and other work in light of the COVID-19 pandemic. Under the change ten consultations and calls for evidence currently underway will be extended by three months to give stakeholders the opportunity to submit their views.
This includes a consultation on preventing abuse of R&D tax relief for SMEs. The Government reiterated that it remains committed to all planned reforms.
techUK events and webinars
The fourth of a techUK series of webinars discussing the world in the aftermath of the COVID-19 pandemic takes place tomorrow (30 April) exploring how the technology of tomorrow help the resilience of our economy and society post-COVID-19. To find out more and register, click here.
Also tomorrow, techUK and Open Banking Ltd are hosting a joint webinar on how fintechs and open banking can help the economy recover post-COVID. You can register your interest here.
How we are supporting our members
techUK continues to support our members and the wider tech industry through this period.
techUK continues its work supporting Government. If you wish to make an offer of support you can do so by emailing our dedicated inbox.