since January. The toolkit — which will be free for three months for those who sign up before July 31, 2020, and £7 per month after that — carries a range of benefits, including helping users calculate and submit VAT returns and estimating the money sole traders need to set aside for costs like self-employment income tax.
Starling is also applying for two grants from the Banking Competition Remedies fund. The two grants, worth £35 million and £25 million , are part of the BCR's £775 million "alternative remedies" fund set up by the Royal Bank of Scotland to encourage competition in the UK banking market, Yahoo Finance.
While much of Starling's business-banking activity in recent months has been centered on responding to the coronavirus pandemic, these moves represent more forward-looking initiatives. The neobank's crisis response has been rapid and thorough: It is under two major UK government-backed relief programs, the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme.
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