What schemes are available to support 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.
- The Coronavirus Job Retention Scheme
- A Self-employment Income Support Scheme
- A deferral on VAT and Self-Assessment payments
- A Statutory Sick Pay relief package for small and medium sized businesses
- A 12-month business rates holiday for all retail, hospitality, leisure and nursery 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
There has been alot of information shared about each of these schemes and we know that it can be confusing with all the changing guidance.
We have therefore summarised these schemes for you in an easy to understand Business Support Summary. The summary reviews all of the schemes, gives you a clear steer on what they are, what the criteria is and how you can apply for them.
To download our summary, click here.
We hope you find it useful. If you have any questions, feel free to call us on 01454 619900 or email your Client Partner.