In the last 12 months, the UK Government has provided several schemes aimed at supporting businesses through COVID-19. These include the the Bounce Back Loan Scheme (BBLS) and the Coronavirus Business Interruption Scheme (CBILS), where the Government has agreed to back loans provided under these schemes to help businesses obtain funding and to encourage lending from loan providers.
Under the SME R&D tax relief scheme, small and medium sized companies (SMEs) that engage in qualifying research and development projects may also claim enhanced corporation tax relief in relation to certain qualifying expenditure, and where the company is loss making, part of the loss may be surrendered for a repayable tax credit from the Government under ...
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