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 eligible based on your tax returns, HMRC will contact you in mid-July to give you a date that you can make your claim from. It will be given to you either by email, text message, letter or within the online service.

The online service to claim the fifth grant will be available from late July 2021.

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

Support for businesses paying tax: Time To Pay Service

If you cannot pay your tax bill on time because of coronavirus, you may be able to delay it without a penalty using HMRC’s Time to Pay service.

You might be eligible if your UK business:

  • pays tax to the UK government
  • has outstanding tax liabilities

Find out what to do if you cannot pay your tax bill on time

Financial support: businesses

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.

The scheme is open until 31 December 2021, subject to review.

More info: bit.ly/RecoveryLoanN

Additional Restrictions Grant

You might be able to get this grant if your business has been negatively affected by coronavirus.

Your local council will decide if you are eligible and how much you can get. Examples of what makes your business eligible could include:

  • you do not pay business rates and your business was closed by law
  • you supply an industry that had to close because of coronavirus, for example the retail, hospitality or leisure sector
  • your business is in the events sector

The Additional Restrictions Grant ends on 31 March 2022.

Find out more about the coronavirus Additional Restrictions Grant. You’ll need to apply through your local council.

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10 Nov - Farm business basics

This free webinar with Agricultural Business Training (ABT) will help you increase your basic farm business skills, financial knowledge and enable you to gain a better understanding of VAT categories and how to comply with future legislative changes.

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