COVID-19 Support for Businesses
The Government has provided the following guidance titled COVID-19 Support for Businesses, and the information was last updated on 24th March 2020.
It includes vital information on what you need to know and how to deal with issues as an employer and business.
Update from 17th March 2020
The page is obviously being updated regularly. On 17th March the information posted there related to the support available for businesses which included the following:
- a statutory sick pay relief package for SMEs
- a 12-month business rates holiday for all retail, hospitality and leisure businesses in England
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
- the HMRC Time To Pay Scheme
Further advice on support for employers, employees and businesses HERE. Contact details for the UK’s business support helplines can be found HERE.
Update from 24th March 2020
The current update on COVID-19 Support for Businesses shares the additional following schemes:
- a Coronavirus Job Retention Scheme
- deferring VAT and Income Tax payments
- a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
You can access FAQ’s HERE. Click HERE to check eligibility and find out how to access the schemes.
In the meantime Funding Track continues to offer support to existing and new customers. If we can assist in any way don’t hesitate to get in touch.
