Covid-19 Support For Businesses

The Government is offering a package of measures to help all businesses who are affected by the Coronavirus due to business disruption.  These carefully thought out targeted, temporary measures are designed to help people, public services and businesses to get through this period of uncertainty.

Included in the package of measures are:

  • a Coronavirus Job Retention Scheme- Companies do not necessarily need to lay off workers
  • deferring VAT and Income Tax payments
  • a Statutory Sick Pay relief package for SMEs
  • a 12-month business rates holiday for all retail, hospitality and leisure 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 offering loans of up to £5 million for SMEs through the British Business Bank
  • 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

Sleigh & Story will continue to share the most up-to-date information directly with you as it becomes available.  You may find the link below useful in order to access the information in more depth.

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

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