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BUSINESS SUPPORT MEASURES AVAILABLE

This page summarises some of the key business support measures available through UK Government Business Support. The available support schemes are categorised under heading according to support type. The links provide further information about each scheme, and guidance on route to access.

BUSINESS LOANS

BOUNCE BACK LOANS

Small business loans of £2,000-£50,000 that are 100% Government-backed.

Coronavirus Small Business Interruption Loan Scheme

UK-wide. This scheme will help smaller businesses affected by coronavirus to access finance of up to £5 million.

Coronavirus Large Business Interruption Loan Scheme

UK-wide. This scheme will help larger businesses affected by coronavirus to access finance of up to £200 million.

Covid-19 Corporate Financing Facility

UK-wide. The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy short-term debt from larger companies.

The Future Fund

A £1.3bn package of investment, grants and loans for high-growth and innovative companies.

CULTURE RECOVERY FUND

UK-wide. A package grants, loans and investment for arts, culture and heritage organisations worth £1.57 billion
closing soon

LABOUR COSTS AND WELFARE

Job Support Scheme

Replacing the Coronavirus Job Retention Scheme from 1 November, this scheme will support wages of employees whose normal hours of work have been reduced but are able to work at least 33% of their normal hours. Open to all SMEs and larger employers whose turnover has fallen.
NEW

Self-Employment Income Support

UK wide. Income support grants for those who are self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19).

Coronavirus Job Retention Scheme

UK-wide. Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis.

Statutory Sick Pay Rebate

UK-wide. The Government will bring forward legislation to allow small and medium-sized businesses to reclaim Statutory Sick Pay (SSP) paid for staff sickness absence due to coronavirus.

Coronavirus and claiming benefits

People on low incomes and self employed are eligible for Universal Credit. From 6 April the standard allowance and basic element in Working Tax Credit will each increase by £20 on top of the planned uprating for 1 year.

DEFERRING TAX LIABILITIES

VAT Deferral

UK-Wide. Supporting businesses by deferring Valued Added Tax (VAT) payments for 3 months until 30 June 2020.

Deferral of Self-Assessment payment

UK-wide. The Self- Assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.

HMRC Time to Pay Scheme

Businesses and the self-employed in financial distress, and with outstanding tax liabilities, may be eligible to receive support through HMRC’s Time To Pay service.

BUSINESS GRANTS

Local Authority Discretionary Grants

A discretionary fund aimed at small businesses who were not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund. There will be three levels of grant payments up to a maximum of £25,000.

SMALL BUSINESS GRANT FUNDING

England only. The Government is providing additional funding for Local Authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief.

Cash Grant for Retail, Hospitality and Leisure

England only. If your business is in the retail, hospitality or leisure sector, you will receive a cash grant of up to £25,000 per property.

The Future Fund

A £1.3bn package of investment, grants and loans for high-growth and innovative companies.
CLOSING SOON

Eat Out to Help Out Scheme

A government funded discount scheme to encourage diners to eat at restaurants / establishments.
CLOSING SOON

CULTURE RECOVERY FUND

UK-wide. A package grants, loans and investment for arts, culture and heritage organisations worth £1.57 billion.
CLOSING SOON

BUSINESS RATES

12-month business rates holiday

England only. Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020-21 tax year.

Nursery business rates holiday

England only. Children’s nurseries in England will not have to pay business rates for the 2020-21 tax year.

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