Earlier this evening the UK Chancellor announced an economic intervention which is “unprecedented in the history of the British state” with measures to support the United Kingdom economy in the midst of COVID-19. Below are the key measures he announced for businesses:

  • The government is setting up a Coronavirus Job

Today, March 18, 2020, the Senate overwhelming passed the Families First Coronavirus Response Act, previously passed by the House.  President Trump is expected to sign the bill.

The bill would provide refundable payroll tax credits through 2020 to employers to cover wages paid to employees while they take time off

Today, March 17, 2020, Treasury Secretary Steven Mnuchin announced that individuals may defer up to $1 million in 2019 tax liability without interest or penalties until July 14 (90 days after April 15, 2020) and corporations may defer up to $10 million in tax liability without interest or penalties for

As part of the UK’s Budget 2020, the Treasury has announced a range of measures aimed at assisting UK businesses, in particular small and medium sized businesses (SMEs), in tackling disruption caused by the coronavirus (COVID-19) outbreak.

The UK government will be hoping that such measures assist in lessening any longer term economic impact caused by the outbreak.

Today, March 14, 2020, the House overwhelmingly passed an emergency coronavirus response bill (H.R. 6201) with bipartisan support.  The Senate is expected to consider the package next week.  President Trump and Majority Leader Mitch McConnell (R-Ky) both issued statements indicating support for relief measures.

The bill would provide refundable payroll

Today, March 13, 2020, President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act in response to the coronavirus.  This declaration allows the Treasury Department and the IRS to extend the deadline for certain taxpayers and small businesses to pay taxes until December