Members may have seen a news item by the BBC, and other articles, about a consultation being undertaken by FCA considering whether payment deferral should be offered under certain circumstances. This was erroneously reported as a payment freeze and was announced before the consultation had even started. The NPA has responded to this consultation and at the end of the week we will know what FCA have decided having fully considered all input received. NPA will provide a briefing for members at that point.
Meanwhile, NPA continues to work remotely and is focused on keeping members up to date during the lockdown period. Most recent guidance has focused on guidance for Frontline Staff, How to claim on the Job Retention Scheme for furloughed staff, SMCR rules during lockdown, and the Business Interruption Loan Scheme. All documents are stored in the NPA members web area, under Research-in the Business Protection section.