Corporate Financing Facility (CCFF)

Under this new facility, the Bank of England will buy short-term debt (of up to one-year maturity) from larger, non-financial companies.

Eligibility

There does not, at present, appear to be a clear definition of what defines a “larger company”. HMRC have announced that the minimum purchase by the Bank of England will be £1 million and that a company must be making a material contribution to the economy. In practice we understand that UK incorporated companies with a genuine business in the UK should qualify. Companies will need to demonstrate that they were in good financial health prior to COVID-19.

How do you access the scheme?

You need to talk to your current bank lenders about using the scheme.

Contact

For further information, contact our Tax Director Aidan Meade at aidanmeade@lubbockfine.co.uk.