26th March 2020
The site at HMG Business Support outlines the full range of business support measures that have been made available to UK businesses and employees.
Coronavirus Business Interruption Loan Scheme which will help businesses affected to access bank lending and overdrafts if they need to. For loans up to £5 million, the Government is providing a guarantee for each loan.
Coronavirus Job Retention Scheme where all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those who would otherwise have been laid off during this crisis.
Business Rates Holiday for Retail, Hospitality and Leisure sectors in England for the 2020-21 tax year.
Up to £25,000 per property Cash Grant for Retail, Hospitality and Leisure in England.
Small Business Grant Funding for small businesses in England that already pay little or no business rates because of small business rate relief, rural rate relief and tapered relief.
Statutory Sick Pay Rebate to allow small and medium-sized businesses to reclaim Statutory Sick Pay paid for staff absence due to coronavirus.
Time to Pay – all businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay Service.
Covid-19 Corporate Financing Facility where the Bank of England will buy short-term debt from larger companies.
VAT Deferral for 3 months for businesses.
Income Tax Deferral for the Self-Employed under the Self-Assessment System until January 2021.
Frequently asked questions that will be regularly updated according to the latest advice and guidance.
See the Government’s coronavirus hub on gov.uk for the latest advice and guidance.