What you need to know...

Coronavirus Business Interruption Loan Scheme

A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will support businesses with a turnover of less than £41 million to access bank lending and overdrafts.

Support for business who are paying sick pay to employees (or self-employed)

For businesses with fewer than 250 employees, the cost of providing 14 days of Statutory Sick Pay per employee will be refunded by the government in full.  Anyone not eligible to receive sick pay, including self-employed people, are able to claim Universal Credit and or Employment and Support Allowance.

Support for businesses paying tax

If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.

Support for businesses that pay business rates

Business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. 

There is no action for you. This will apply to your next council tax bill in April 2020. 

A £25,000 grant will also be provided to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value between £15,000 and £51,000. 

Support for businesses that pay little or no business rates due to Small Business Rate Relief

One-off grant of £10,000 to businesses currently eligible for Small Business Rate Relief or rural rate relief, to help meet their ongoing business costs. If your business is eligible for SBRR or rural rate relief, you will be contacted by your local authority –  you do not need to apply.


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