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


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.


For further information, contact our Tax Director Aidan Meade at