-- COVID-19 --
What help is available for small businesses and the self employed during the COVID-19 Crisis?
For more information on each of these schemes, please click the links to the relevant government webpage. If you would like to discuss your situation further, please contact us.
| Measure | Targeted at: | How to apply | Status |
|---|---|---|---|
| Coronavirus Job Retention Scheme | Employers.
Also covers PAYE earnings of limited company directors including sole directors of personal service companies, agency workers and agency workers working through an umbrella company. |
Self-serve through HMRC online | Online service available from 20th April 2020 |
| Self-employment Income Support Scheme | Self-employed (sole traders or partnerships only – not directors of limited companies) | HMRC will check potential eligibility and invite applications once the scheme is operational. | Online service available early June 2020 |
| Deferral of Self Assessment payment on account due on 31st July to 31st January 2021 | Anyone with a self-assessment payment on account due on 31st July 2020 | Applies automatically | Live |
| VAT deferral until 30th June | All UK businesses who are VAT registered | Deferral applies between 20th March and 30th June – applies automatically | Live |
| Additional time to pay your tax bills | All UK businesses | Contact HMRC | Live |
| Suspension of wrongful trading rules to help companies trade | All UK businesses | TBC | TBC |
| Small Business Grant Scheme £10,000 one-off grant | Small businesses paying little or no business rates in England | No application needed – eligible businesses to be contacted by their local authorities | Live |
| Statutory Sick Pay Rebate | UK small or medium-sized businesses employing fewer than 250 employees as of 28 February 2020. | TBC | Being developed |
| Lending facility for larger firms | Large UK businesses | Apply via company banks | Live |
| Business Interruption Loan Scheme | UK businesses with turnover less than £45 million per year | Apply via company bank or one of the 40 accredited finance providers | Live |
| Support for retail, hospitality and leisure businesses that pay business rates | Businesses based in England
in the retail, hospitality and/or leisure sector |
Applies automatically for the 2020/21 tax year | Live |
| Cash Grant for Retail, Hospitality and Leisure | Property that has a rateable value of:
– up to £15,000 may be eligible for a grant of £10,000 – over £15,000 and less than £51,000 may be eligible for a grant of £25,000. |
No application needed – eligible businesses in the retail, hospitality or leisure sector to be contacted by their local authorities | Live |
| Support for nursery businesses that pay business rates | Business rates holiday for nurseries in England for the 2020/21 tax year. | No application needed – eligible nursery businesses to be contacted by their local authorities | Live |
| Three month extension period to file accounts with Companies House | All UK companies | Online – must apply before company statutory filing deadline for accounts | Live |