Small Business Cash Flow Scheme, open for business signThe IRD wants to provide greater peace of mind to businesses taking advantage of the Small Business Cash Flow Scheme (SBCS). According to a recent update, the IRD will automatically give prior notification to SBCS borrowers of key events such as:

  • When interest will begin if the loan is not repaid in full within the first 12 months;
  • When regular loan instalment payments are due to begin;
  • If a potential risk of defaulting arises.

Notification of these key events will occur through the myIR accounts (or via a letter for those without a myIR account).

Applications for the Small Business Cash Flow Scheme remain open until 31st December 2020.