The situation for Covid-19 is changing quickly, this information will help keep you up to date with current government advice and guidance, helping you quickly get to the facts. The information below was last updated on 20 March 2020.
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including:
- a Coronavirus Job Retention Scheme
- 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
Below is a list of useful links that provide information and advice:
Advice for Businesses and Employers –
HMG Coronavirus (COVID-19) guidance for employees, employers and businesses – https://www.gov.uk/government/news/coronavirus-covid-19-guidance-for-employees-employers-and-businesses
Coronavirus: ACAS advice for employers and employees – https://www.acas.org.uk/coronavirus
Coronavirus (COVID-19) advice for UK employers – CIPD guidance – https://www.cipd.co.uk/knowledge/fundamentals/emp-law/health-safety/coronavirus-factsheet
Coronavirus (COVID-19): HSE latest information and advice – https://www.hse.gov.uk/news/coronavirus.htm
Financial Advice and Guidance-
Coronavirus Business Interruption Loan Scheme (temp replacement for the Enterprise Finance Guarantee Scheme) – https://www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance-guarantee/
Tax helpline to support businesses affected by coronavirus (COVID-19) – https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19
What to do if you cannot pay your tax bill on time – https://www.gov.uk/difficulties-paying-hmrc
Small business grant funding of £3,000 for all business in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief – https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
Business Support Organisations – Related Advice and Guidance-
Preparing for and responding to Coronavirus – https://www.britishchambers.org.uk/page/preparing-and-responding-to-coronavirus
Advice to small businesses and FSB members about the novel coronavirus COVID-19 – https://www.fsb.org.uk/resources-page/advice-to-small-businesses-and-fsb-members-about-the-novel-coronavirus-covid-19.html
Interim Guidance for Businesses and Employers – https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html
10 tips to help your business communicate throughout the coronavirus crisis – https://thenextweb.com/growth-quarters/2020/03/12/10-tips-to-help-your-business-communicate-throughout-the-coronavirus-crisis/
Coronavirus: best practice for business – https://www.cbi.org.uk/articles/coronavirus-faqs/
Supporting businesses impacted by coronavirus – https://www.cbi.org.uk/articles/supporting-businesses-impacted-by-the-coronavirus/