Support for business

The government has created a package of support for businesses during the COVI19 pandemic. 

Support is available in the forms of:

  • a Coronavirus Job Retention Scheme
  • deferring VAT and Income Tax payments
  • statutory sick pay relief package for small and medium-sized enterprises (SMEs)
  • 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 to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance
  • 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 to help with tax

Specific guidance has been issued: