Nothing could have predicted these unprecedented times. We are here to help. Please find all the relevant information here in regards to the UK economic strategy against coronavirus. We are currently supporting business owners through these challenging times, providing vital assistance to those who require it.
The UK government has now released its next chapter recovery plan in regards to the COVID-19 pandemic.
The government has provided small and large businesses a range of financial packages that businesses can apply for to support them with HR, operations, accounting and finance. However, to find out the latest updates on these grants, schemes and loans click on the links below:
1. Paying sick pay
- Claiming back statutory sick pay paid to employees due to COVID-19
2. Paying tax
- Deferral of VAT Payment Due to VAT due to COVID-19
- Deferral of Self-Assessment Payment due to COVID-19
- NEW: VAT Tax Cuts and Deferrals
3. Business rates relief
- Business Tax Relief for Retail, Hospitality, Leisure Businesses and Nurseries
- NEW: the temporary 15% VAT cut for the hospitality and tourism sector will remain until March 2021.
4. Business support grant funds
- Coronavirus Small Business Grant Fund
- Coronavirus Retail, Hospitality and Leisure Grant Fund
- Local Authority Discretionary Grants Fund
- NEW: Coronavirus Local Lockdown Grants
5. Support for the self-employed
6. Support for small and medium-sized businesses
- Coronavirus Business Interruption Loan Scheme
- Coronavirus Future Fund
- Coronavirus Bounce Back Loan
- NEW: Pay As You Grow Flexibility Repayment System
7. Support for large businesses
- Coronavirus Large Business Interruption Loan Scheme
- COVID-19 Corporate Financing Facility
Business Support, Resources and Advice
1. Coronavirus (COVID-19) Business Support
If you are looking for updates on government policy and support for businesses and employers visit the website: gov.uk/coronavirus/business-support and the Department for Business, Energy and Industry website.
2. Enterprise Nation
Founded by Emma Jones who is often asked for a ‘soundbite’ this small but influential business community network has the latest updates on government support, offers free advice and access to resources to support businesses affected by the coronavirus crisis.
3. The Independent Professional and Self Employed (IPSE)
A key player in brokering the government’s business interruption package, their coronavirus (covid-19) hub has the latest information, webinars and more for freelancers and small businesses.
4. Federation for Small Business (FSB)
In response to coronavirus the FSB is providing small businesses and the self-employed with the latest news, free webinars, access to help, advice and resources for your business, employees and mental health.
5. The British Chamber of Commerce (BCC)
The BCC has a ‘Coronavirus Support Hub’ and a ‘Coronavirus Business Impact Tracker’ to keep you up-to-date and support your business.
6. Virgin Startup
If you are new to business or an early stage venture this is a good place to start, for information on all the government packages and their own programme of business activities and support.