COVID-19

Background of Funding Available for all

Billions of funds will be put aside from the Government’s financial support package for businesses of all sizes and individuals in a bid to combat the effects of Coronavirus. 

Rishi Sunak has vowed to do “whatever it takes” to help the economy with an “unprecedented package” and has asked for compassion and kindness from us all in these unprecedented times.

What’s Included in COVID-19 Emergency Funding?

  • Tax holiday for VAT from now until June and help to defer payment for other business taxes – see Can't pay your tax bills

  • Government backed loans for businesses with attractive terms for payment of rent, salaries, suppliers or stock, with no interest for 12 months– see Business Interruption Loans 

  • For businesses in retail, hospitality and leisure, business rates will be waived for 12 months from April 2020.

  • Grants to small businesses eligible for Small Business Rate Relief will be increased from £3,000 to £10,000 – see Grants 

  • Further £25,000 grants for retail, hospitality, and leisure businesses operating from smaller business premises defined as those within a rateable value between £15,000 and £51,000 – see Grants 

  • £10,000 one-off grant to businesses that pay little or no business rates due to small business rent relief or rural rate relief- see Grants 

  • All business, no matter their size, will be able to pay their staff up to 80% of their salary and for a maximum claim amount of £2,500 per month via the Job Retention Scheme - see Do you employ staff?

  • Small and medium sized business will be able to reclaim Statutory Sick Pay (SSP) for sickness due to COVID-19 - See SSP 

  • An extensive support package for the self-employed announced on 26th March - see Self-Employed Income Support Scheme

  • Support for liquidity for larger business with a new scheme from the Bank of England.

Pubs, clubs, theatres and leisure centres will be closed as of Saturday 21st March and this triggers a claim under Business Interruption insurance - see Cashflow and fixed costs financial support 

Pubs and restaurants are able to provide a takeaway service without a planning application.

The UK Government guidance is being updated continually also, see here for latest guidance.

Please have a look at the following pages to find exactly what you are looking for: