Coronavirus - Support for Businesses
20 March 2020 13:32
HMRC have today updated their website which now gives a bit more information with regards to what help there is available to businesses, and how this help is to be claimed. Full details are available on the link:
A brief summary of the current measures include:
- Statutory Sick Pay relief for SME (currently for up to two weeks)
- 12 months business rate holiday for retail, hospitality and leisure
- A £10,000 grant for all businesses in receipt of small business rate relief or rural rate relief.
- Grant funding of £25,000 for retail, hospitality and leisure businesses whose property rateable value is between £15,000 and £51,000
- The business interruption loan scheme
- A new lending facility from the BoE to help support liquidity for larger firms
- Time to pay scheme available from HMRC
However, if you have any questions or concerns on how the pandemic will affect you and /or your business, then please do not hesitate to contact us.