The government has announced unprecedented support for businesses to deal with the economic impacts of coronavirus. This explains what support is available to businesses of all sizes, from access to finance, to deferred payments and support for employees. COVID-10 Corporate Financing Facility (CFFC) – larger businesses The Covid-19 Corporate Financing Facility (CCFF) is backed by...
In response to the Coronavirus, Covid-19, the Government announced there would be support for small businesses, and businesses in the retail, hospitality and leisure sectors. This support will take the form of two grant funding schemes, the Small Business Grant Fund (SBGF) and the Retail, Hospitality and Leisure Grant Fund (RHLGF). The schemes will be...
Businesses in the retail, hospitality and leisure sectors in England* will not have to pay business rates for this year. Your business will be eligible if it is based in England and is in the sectors mentioned above (including some distributors and most dealerships). Businesses do not need to act as local authorities will apply...
The Coronavirus Business Interruption Loan Scheme (CBILS) supports small and medium-sized businesses, with an annual turnover of up to £45 million, to access loans, overdrafts, invoice finance and asset finance of up to £5 million for up to 6 years. The government will also make a Business Interruption Payment to cover the first 12 months...
The recently announced CLBILS aims to support large businesses, and is now open for applications. It provides a government guarantee of 80% to enable banks to make loans of up to £25m to firms with an annual turnover of between £45m and £500m. It will support a wide range of businesses to access finance products...
All businesses and self-employed people in financial distress with outstanding tax liabilities may be eligible to receive tax support through HMRC’s Time To Pay service. This is agreed on a case-by-case basis, tailored to individual circumstances. Who is it for? Any business or self-employed person that pays tax to the UK Government and has outstanding...