Coronavirus - Support for Businesses

Information for businesses during coronavirus pandemic

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:

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

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
Things are changing very quickly, and new reliefs and support packages are likely to be available to support paying staff, those with no commercial property, etc. We will endeavour to keep you up to date via our website and social media.

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.

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