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The temporary measures to support businesses from insolvency as a result of COVID-19 are being phased out from 1 October. New targeted measures are to be introduced to help smaller companies.

The new legislation, replacing the Previous provisions, will from 1 October:

These new provisions will be in force until 31 March 2022.

The protection from eviction for commercial tenants will continue until 31 March 2022. The government then intends to introduce a rent arbitration scheme to deal with rental debts as a result of the pandemic.

Useful guides on this topic

Corporate Insolvency and Governance Act 2020
The Corporate Insolvency and Governance Bill 2020 aims to give companies experiencing financial difficulties as a result of the Coronavirus outbreak extra assistance to increase their chances of survival. A number of measures delay the normal insolvency timetable and prohibit claims by creditors.

Ceasing trading Index: What are your options?
Subscriber guide to closing down your company.

COVID-19: Government Support Tracker
This FREEVIEW tracker covers the key measures announced by the government to support individuals and businesses, as we get through COVID-19. This tracker is updated on a daily basis.

Insolvency FAQs for directors
This guide considers some common FAQs that directors may have about insolvency situations.

External link

Press release: End of temporary insolvency measures


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