In addition to the Job Support Scheme the Chancellor announced that the Self-Employed Income Scheme would also be extended for a further 3 months but the grant will be 20% of average monthly profits capped at £1,875.

The temporary 5% rate of VAT for the hospitality sector, accommodation and attractions will be extended to 31 March 2021.

Businesses that have deferred their VAT payments will be able to pay back the deferred amount over 11 months.

The “Bounce-back” and CBILS loans can be repaid over 10 years instead of 6 years.