COVID-19: Support for Businesses Guidance


The Chancellor has set out a package of temporary and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This includes a package of measures to support businesses including:

  • Coronavirus Job Retention Scheme
  • Deferring VAT and Income Tax payments
  • Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
  • 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 £15,001 and £51,000
  • Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • 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
  • HMRC Time To Pay Scheme

Details of the package can be accessed here https://bit.ly/2QHd6nc


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