The government has announced a number of measures to support individuals and businesses, please find below a link to our summary of these measures and what you should now be considering. We have also released specific guidance for the small business rates grant and the job retention scheme.
The measures include:
- Coronavirus Job Retention Scheme for furloughed employees (CJRS).
- Self-employed Income Support Scheme (SEISS)
- Deferring VAT and Income Tax payments
- Statutory Sick Pay relief package for SMEs
- A 12-month business rates holiday for all retail, hospitality and leisure businesses in England
- Small business grant of £10,000 for all business in receipt of small business rate relief (SBRR) or rural rate relief (RRR), or;
- Grant of either £10,000 for retail, hospitality and leisure businesses with property with a rateable value of up to £15,000 or £25,000 for those 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
- The Bounce Back Loan scheme offering loans between £2,000 and £50,000
- Job Support Scheme