Coronavirus: government & financial support

Government support for businesses

For a full list of support for businesses and the self-employed, visit the Business Support website

To find out if you can access support, you can use the government’s eligibility checker

For further guidance, visit the government’s website

 

Financial support: individuals

Self-Employment Income Support Scheme

If you’re self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.

The Self-Employment Income Support Scheme has been extended. The 4th grant will cover February to April, worth 80% of average trading profits up to £7,500. A 5th grant will be available from July.

More details: https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension

VAT Deferral

If you deferred VAT payments due between 20 March 2020 and 30 June 2020 and still have payments to make, you can:

  • pay the deferred VAT in full, on or before 31 March 2021
  • join the VAT deferral new payment scheme – the online service is open between 23 February 2021 and 21 June 2021
  • contact HMRC on Telephone: 0800 024 1222 by 30 June 2021 if you need extra help to pay

More information: https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19

Financial support: businesses

Restart Grants Scheme
Businesses in England in the non-essential retail sector are eligible for one-off grants of up to £6,000, while businesses in the hospitality, accommodation, leisure, personal care and gym sectors, are eligible for one-off grants of up to £18,000. 

More info: bit.ly/RGrantN

Coronavirus Job Retention Scheme

Following the Prime Minister’s announcement on further restrictions, the UK-wide Coronavirus Job Retention Scheme will be extended until the end of September 2021 covering 80% of employees’ wages.

Read More: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme

Recovery Loan Scheme

Businesses – ranging from coffee shops and restaurants, to hairdressers and gyms – can now access loans varying in size from £25,000, up to a maximum of £10 million. Loans will include 80% government guarantee and interest rate cap.

More info: bit.ly/RecoveryLoanN

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