Government support for UK employees, employers and businesses
The situation in the UK, and the world is changing so rapidly it’s hard to keep up with the news.
With significant challenges facing businesses and people’s livelihoods, the Chancellor has set out a package of temporary, timely and targeted measures.
The following programmes are to support public services, people and businesses through this period of disruption caused by COVID-19:
- A Coronavirus Job Retention Scheme
- Deferring VAT and Income Tax payments
- A Statutory Sick Pay relief package for SMEs
- A 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
- Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- The Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
- The HMRC Time To Pay Scheme
Details on each of these measures are on the Government website on COVID-19: support for businesses.
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