Article from ‘Parks Business’ spring 2020 issue, page 5.
Information about the range of business support measures available to UK businesses and employees can be found at www.businesssupport.gov.uk/coronavirus-businesssupport. The website pages help businesses find out how to access the support, who is eligible, when the schemes open and how to apply.
This includes:
Coronavirus Business Interruption Loan Scheme which gives access to bank lending and overdrafts
Cash Grant for Retail, Hospitality and Leisure, through which cash grants of up to £25k per property are available
Small Business Funding grant providing additional funding for Local Authorities to support small businesses that already pay little or no business rates because of various rate relief schemes
Business Rates Holiday for Retail, Hospitality and Leisure whereby these sectors in England will not have to pay business rates for the 2020-21 tax year
Statutory Sick Pay Rebate which will allow small and medium-sized businesses to reclaim Statutory Sick Pay paid for staff sickness absence due to coronavirus
Time to Pay scheme offering certain businesses and self-employed people in financial distress, and with outstanding tax liabilities, support with their tax affairs through HMRC’s Time To Pay service
Coronavirus Job Retention Scheme allowing UK employers with a PAYE scheme to access support to continue paying part of their employees’ salary for those who would have been laid off.
There is also an online FAQ (England) section and advice on 0300 456 3565.