Government support for businesses

There are several schemes that have been set up by the government to provide financial support for businesses.

Coronavirus Business Interruption Loan Scheme

Triodos Bank is now an accredited lender under the Coronavirus Business Interruption Loan Scheme (CBILS). CBILS offers facilities up to £5m, available on repayment terms up to six years for term loans and up to three years for overdrafts. The scheme provides the lender with a government-backed guarantee against the outstanding facility balance. There is no guarantee fee for SMEs to access the scheme.

Coronavirus Job Retention Scheme

All UK employers with a PAYE scheme are able to access this support in order to continue paying part of the salary for those employees who would otherwise have been laid off during this crisis (‘furloughed workers’). 

Statutory Sick Pay Rebate

This initiative allows small and medium-sized businesses to reclaim Statutory Sick Pay paid for staff absence due to coronavirus

HMRC tax helpline

HMRC has set up a helpline for businesses and self-employed people who are concerned about paying their tax due to COVID-19.

Three-month VAT Deferral

Defer Valued Added Tax (VAT) payments due between 20 March 2020 and 30 June 2020

Small business grant funding 

Available for small businesses in England that already pay little or no business rates because of small business rate relief, rural rate relief and tapered relief.

Some aspects of business support are devolved. For business support outside of England go to Scotland, and Wales.

Support for charities and social enterprises

Guidance for charities is available from:

• The Charity Commission - for charities in England and Wales.
• The Scottish Charity Regulator (OSCR)

Support and resources for social enterprises has been compiled by:

• Social Enterprise UK
• Social Enterprise Scotland
• Social Business Wales

The Good Finance Resource Hub

Good Finance has set up a resource hub offering information, resources and tools to support charities and social enterprises through COVID-19.

Support for retail, hospitality and leisure sectors

Business rates holiday 

Available in England for the 2020-21 tax year.

Cash grants

Available in England, of up to £25,000 per property.

Support for arts and culture sector

Arts and culture organisations can find advice, emergency measure and funding from:

• Arts Council England
• Creative Scotland
• Arts Council of Wales

Support for health and social care sector

Health and social care organisations are provided with guidance by:

• Care Quality Commission (CQC) for England
• Scottish Care Inspectorate
• Care Inspectorate Wales

Support for early years sector

Business rates holiday for nurseries 

Available in England for the 2020-21 tax year. 

Support for food and agriculture sector

The Soil Association is providing support for sustainable food and agriculture organisations.