25 Mar Practical business advice: COVID-19
Practical business advice: COVID-19
Here’s a quick summary of practical help announced by the government.
You can read the latest advice and guidance from government for businesses on its coronavirus pages.
We will be updating this page on a continuous basis to keep you, your business and your clients informed with all the latest information.
- Coronavirus Job Retention Scheme where all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those who would otherwise have been laid off during this crisis. Find out more.
- VAT Deferral for 3 months for businesses. Find out more.
- Time to Pay – all businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay Service. Find out more.
- Income Tax Deferral for the Self-Employed under the Self-Assessment System until January 2021. Find out more.
- Cash grants for small businesses receiving Small Business Rate Relief. Find out more.
Small and medium businesses
- Coronavirus Business Interruption Loan Scheme which will help businesses affected to access bank lending and overdrafts if they need to. For loans up to £5 million, the Government is providing a guarantee for each loan. Find out more.
- Statutory Sick Pay Rebate to allow small and medium-sized businesses to reclaim Statutory Sick Pay paid for staff absence due to coronavirus. Find out more.
- Covid-19 Corporate Financing Facility where the Bank of England will buy short-term debt from larger companies. Find out more.
Retail, Hospitality and Leisure businesses
- Business Rates Holiday for Retail, Hospitality and Leisure sectors in England for the 2020-21 tax year. Find out more.
- Up to £25,000 per property Cash Grant for Retail, Hospitality and Leisure in England. Find out more.
- Business rates holiday for nurseries in England for the 2020 to 2021 tax year. Find our more.
Read government’s Frequently asked questions that will be regularly updated according to the latest advice and guidance.