COVID-19 (Coronavirus) – Business Support

Help and advice to understand the schemes available to you and your business.

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This includes a package of measures to support businesses including:

1. Job Retention Scheme (HMRC will reimburse 80% of furloughed workers wage costs)
2. Self-Employed
3. Deferring VAT payments
4. Deferring Income Tax payments
5. Business Tax – Time to Pay Scheme
6. Statutory Sick Pay relief package for SMEs
7. Business rates holiday for 12 months for all retail, hospitality and leisure businesses in England
8. Grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
9. Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
10. Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
11. Bank of England lending facility to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
12. Increase to Working Tax Credits
13. Universal Credit
14. Mortgage Holiday for 3 months.
15. Insurance Cover

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