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Business Rescue

Government support wind-down and repayments

A timeline

As restrictions lift and the economy shows signs of improvement, support for businesses is coming to an end. To help navigate this complex business landscape, ICAEW has produced a timeline of when government schemes are due to close and loan repayments fall due.
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Over the coming weeks and months, businesses will have to carefully map out their obligations and cashflow needs as government support winds down, businesses must contribute to the Coronavirus Job Retention Scheme and repayments for deferred tax liabilities and loans are required.

To help navigate this complex business landscape, ICAEW has produced a timeline of when the various government schemes are due to close, and when loan repayments fall due.

March 2021

  • CLBILS, CBILS and BBLS close to new applicants.

June 2021

  • CBILS borrowers start to repay interest on their loans (the first 12 months of interest payments were made by the government).
  • BBLS borrowers start to make repayments on their loans (the first 12 months of payments were made by the government). Businesses should consider their options under the Pay As You Grow scheme if they are unable to, or anticipate being unable to afford repayments.
  • VAT Deferral New Payment Scheme closed 21 June 2021.
  • VAT deferral ended 20 June 2021.
  • Ban on commercial evictions is extended, but businesses who can open should start to pay rent.
  • Trade Credit Reinsurance Scheme ended 30 June 2021.

July 2021

September 2021

  • Furlough scheme ends 30 September 2021.
  • Winding up petitions and statutory demands return on 30 September 2021.
  • Hospitality VAT rate moves from 5% to 12.5% on 30 September 2021.

December 2021

  • Recovery loan scheme closes.

March 2022

  • Commercial eviction protection ends.
  • Partial business rates relief for retail, hospitality and leisure ends.
  • Final maturities under the Covid Corporate Financing Facility.
  • Hospitality VAT rate returns to standard rate from 31 March 2022.

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