The COVID19 outbreak pushed the UK Government to create many ways to support the economy in the UK, covering the vast majority of people in the country. We have summarised below all the options available.
Remember that you are not alone, we are here to help you get the help you need. So get in touch for further information and ways to get support.
For Self Employed
- Self Employed Income Support Scheme
For eligible self-employed workers who submitted a tax return for 2018-2019: a taxable grant worth 80% of your average monthly profits for the last 3 years, up to £2,500 a month - Universal Credit Benefit
For self-employed who are hit by the outbreak and had its business disrupted, causing income drop. These professionals may get monthly financial support to get through - HMRC Time To Pay Scheme
For businesses and self-employed in financial distress, and owing money to HMRC. These businesses and individuals might be eligible for support, for example a longer time to repay what they owe.
For Small Businesses
See more details on >>> this dedicated page <<<
- Coronavirus Business Interruption Loan Scheme
This Scheme offers loans of up to £5 million for SMEs through the British Business Bank - Coronavirus Job Retention Scheme
The government has offered to pay 80% of the salaries of employees who have been furloughed. - Grants of £10,000 for small businesses
The Small Business Grant Scheme is for businesses who get Small Business Rate Relief or Rural Rate Relief. - Grants of £10,000 or £25,000 for retail, hospitality and leisure businesses
The Retail and Hospitality Grant Scheme is for businesses in these sectors with property which has a rateable value between £15,000 and £51,000. - Rates holiday for retail, hospitality and leisure
Businesses in these sectors and based in England won’t pay business rates for the tax year 2020-2021. You don’t have to do anything – it’ll be applied on your council tax bill in April 2020. There are rates relief schemes in the other nations of the UK but the details are different: Scotland | Wales | Northern Ireland. - Statutory Sick Pay relief for SMEs
To allow employers to reclaim Statutory Sick Pay (SSP) they pay for sickness absence due to Covid-19. To be eligible, your business must have had fewer than 250 employees on 28 February 2020 - HMRC Time To Pay Scheme
For businesses and self-employed in financial distress, and owing money to HMRC. These businesses and individuals might be eligible for support, for example a longer time to repay what they owe. - Coronavirus Corporate Financing Facility
For larger companies. The Bank of England will buy short-term debt to support companies affected by a short-term funding squeeze.
We are here to help you
If you’re feeling overwhelmed with the amount of information and simply don’t know where to start or how to exactly get the help you need, please leave your details below and we are happy to get back to you with professional help – no jargons, just simple and plain english.
