More flexibility with repaying Bounce Back Loans

On 8 February 2021, the government announced additional flexibility in repaying Bounce Back Loans:

  • borrowers will be able to individually adjust their Bounce Back Loan payments
  • all repayments can be delayed for additional 6 months. This allows the borrowers not to make any payments until 18 months from taking the loan. Initially this option could have been used after making the first 6 payments


The following options, introduced last year, still apply:

  • borrowers can extend the length from 6 to 10 years. This means that the monthly repayments can be reduced by nearly 50%
  • repay interest only for up to 6 months (this option can be used up to three times)


For more information about the scheme please see the government’s website.

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on whatsapp

Other Insights

VAT on hospitality and setting your prices

The reduced VAT rate of 5% for the hospitality industry is due to end on 30 September 2021. It’s time for businesses to consider how this will impact their trade.

To prepare, we recommend that our clients: review their prices; prepare till systems for the change; save for their VAT bill; constantly monitor their business’ performance.

Read More »

Electric cars can save you tax

Imagine being stood in the car show room, wondering whether you should buy an electric car. You are busy considering which model will suit you best and the sales team start telling you about the many benefits of buying through the company.

Read More »


You will be able to claim a deduction from your corporation tax bill if you invest in new productivity enhancing plant and machinery. The expenditure

Read More »

This website uses cookies to ensure you get the best experience on our website.