Coronavirus support

UK Government Schemes

In response to the COVID-19 outbreak the UK Government has announced a series of measures to support businesses who may be struggling financially as a consequence of the actions taken to help mitigate the national and global spread of Coronavirus.

To help you to get the support you are entitled to, we have summarised the schemes below and hope you find this information helpful.

Self-Employed Income Support Scheme

Direct cash grant of up to £2,500 a month for self-employed people covering 80% of the average profits.

Find out more: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

Deferral of Income Tax Payments

Income Tax payments due on 31 July 2020 can be deferred until 31 January 2021

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-through-deferring-vat-and-income-tax-payments

Time to Pay Service

Businesses and self-employed people in financial distress and with outstanding tax liabilities may be eligible to receive support with their tax affairs through this scheme

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-paying-tax-time-to-pay-service

Coronavirus Business Interruption Loan Scheme

Access to loans, overdrafts, invoice finance and asset finance for up to £5m and up to 6 years. Government backed and 80% guaranteed as well as interest-free for the first 12 months

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-through-the-coronavirus-business-interruption-loan-scheme

Small Business Grant Scheme

One-off £10,000 grant to support small businesses that already pay little or no Business Rates because of Small Business Rate Relief, Rural Rate Relief and Tapered Relief.

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-that-pay-little-or-no-business-rates

Coronavirus Job Retention Scheme

Employers with a PAYE scheme will be reimbursed for 80% of wages paid to workers unable to work, but kept on payroll

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-through-the-coronavirus-job-retention-scheme

Deferral of VAT Payments

Deferral of payments from 20 March 2020 until 30 June 2020

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-through-deferring-vat-and-income-tax-payments

Commercial Tenant Eviction Protection

Commercial tenants who are unable to pay their rent due to COVID-19 will be protected from eviction

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#protection-from-eviction-for-commercial-tenants

Refund of Statutory Sick Pay being paid to Employees

Small and medium-sized businesses can reclaims Statutory Sick Pay paid to employees for sickness absence due to COVID-19.

Find out more: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-who-are-paying-sick-pay-to-employees

Universal Credit – Increased Allowances & Advance Payment

Universal Credit payments to help you with the cost of basic living.

Find out more: https://www.gov.uk/universal-credit

Further measures

The Government has made further measures available which may help you.

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


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