HMRC Creditor Status; Calls to Extend Wrongful Trading Moratorium; CBILS & Bounce Back Loan Update

Business Finance Bulletin

On 22nd July HMRC’s status as a Preferential Creditor in insolvency situations was restored after nearly 20 years. Could this have an impact on the cost of obtaining business finance and the appetite of lenders to support businesses? As growth in the economy begins to kick back in, many businesses are a long way off in settling into a new routine. To take the pressure off, calls are being made for the government to extend the temporary moratorium on Wrongful Trading which is due to be lifted at the end of September. To close this Bulletin, we review the latest CBILS and Bounce Back Loan figures which continue to provide a financial lifeline to businesses.