What financial support is the Government offering businesses?

The Government has set up several schemes to support businesses through the challenges of Covid-19:

Coronavirus Business Interruption Loan Schemes
There are now several different loan schemes in place to help businesses affected by the Covid-19 outbreak to access bank lending and overdrafts. The distinct schemes are designed to support different kinds of organisations, dependent on size and financing need.

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.

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