Government Schemes

Government Financial Assistance for the Small Businesses 

  • Bounce Back Loans Launched on the 4th May 2020
    • CLick here to read full details
  • a Coronavirus Job Retention Scheme for 3 months from 1st March - please note - this Scheme went live on the 20th April 2020 so claims can now be submitted
  • deferring VAT and Self-Assessment payments for 3 months
  • a Self-employment Income Support Scheme
  • a Statutory Sick Pay relief package for small and medium sized businesses (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

To read the full report on all the concessions and details on how to apply for them click here

Government Financial Assistance for the Self Employed 

  • grants worth 80% of average monthly profits up to £2,500 a month can be claimed
  • the scheme will remain in place for at least three months
  • open to anyone with trading profits of up to £50,000
  • available to those who make the majority of their income from self-employment and who filed a tax return for 2019 (with a further concession of 4 weeks to file late tax returns)
  • tax officials will contact those who are eligible
  • the scheme will be up and running no later than the beginning of June (and will be back dated to pay all 3 months in one go)
  • for those who need assistance before June Universal Credit would need to be applied for in the meantime

To claim a grant from the self employed scheme click here

To see how HMRC calculate what grant you qualify for click here

For information on additional Scottish Government Guidelines click here

For information on additional Welsh Government Guidelines click here

For information on additional  Northern Irish Government Guidelines click here

For informationon on additional  Republic of Ireland Government Guidelines click here