Directors’ priorities table
Coronavirus: Directors’ priorities table.
The IoD has been working hard on behalf of its members to give government a clear picture of how the coronavirus outbreak is affecting business on the ground, and pushing for support where it’s most needed. Action has been taken across numerous fronts, but there are still areas to improve.
What's the issue?
What's been done?
What still needs to happen?
Jobs and wages
CJRS 'Furlough' extended to end-Sept on tapered basis
Monitor roadmap for potential extension
Self employment
SEISS Grant support widened and extended to end-Sept
Monitor roadmap for potential extension
Cashflow
Restart Grants for premises, and Local Authority Discretionary Grants extended
Widen coverage of grants, monitor implementation
Investment
Help to Grow' digital investment vouchers, Super deduction for capex
Implement 'Help to Grow', widen coverage of tax incentives
Liabilities
HMRC 'time to Pay' measures, ongoing VAT deferral scheme, and other payments
Ensuring deferral options remain available throughout 2021
Insolvency
Wrongful trading, statutory demands suspended till end April
Extend alongside other support measures
Access to finance
New Recovery Loan Scheme available till end of 2021
Implement scheme, monitor bank implementation
Tax costs
Business Rates relief, loss carry back extended, VAT relief extended, CT increased
Extend reliefs (e.g employers' NICs), monitor roadmap for extension
Hiring and reskilling
Apprenticeship, traineeship incentive extended, 'Help to Grow' management skills support
Widen incentives for more forms of training
Debt
BBLS 'Pay As You Grow', BBLS and CBILS extended repayment period
Monitor banks' implementation of new repayment terms
Ltd co director income
Directors are eligible to be furloughed on PAYE salary
Extend grant support to cover dividend income (e.g NI LCDSS)
Better directors for a better world
The IoD supports directors and business leaders across the UK and beyond to learn, network and build successful, responsible businesses.
