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ARTICLE · 04 NOVEMBER 2020

COVID-19 Update On Government Measures

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In the United Kingdom, some of the landmark measures introduced by the UK Government in the wake of the Covid-19 pandemic have recently been extended by the Chancellor of the Exchequer.

United KingdomCoronavirus (COVID-19)
Sheena Frazer
Sheena Frazer
Fatema Begum
Fatema Begum
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In the United Kingdom, some of the landmark measures introduced by the UK Government in the wake of the Covid-19 pandemic have recently been extended by the Chancellor of the Exchequer. 

We summarise below key milestones relating to those initiatives which have been put in place to support businesses and note how financial stakeholders are impacted. The package of help for businesses is ever-evolving in response to the changing market, and the key dates identified are correct as at 28 October 2020.

Temporary suspension of wrongful trading expired: amendments to the wrongful trading provisions were introduced to allow directors to operate their business through Covid-19 without the threat of personal liability by creating a presumption that directors were not responsible for any worsening of the financial position of the company during the period 1 March and 30 September 2020. These temporary measures came to an end on 30 September 2020 and the ordinary

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