The Government Can Help You Through This #lookonthebrightside

8th April, 2020
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We know that the government is offering to support employees who need to be furloughed during the COVID-19 lockdown, covering 80% of their monthly salary up to £2,500. But is there any other financial help available to small businesses?

The answer is yes! Here are some other ways the government may be able to help your business.

  • VAT deferral for 3 months (until 30th June 2020)
  • Second self-assessment payments due by 31st July can now be deferred until January 2021
  • The SEISS scheme enables self-employed individuals to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months
  • Time to Pay service offers individuals or businesses with outstanding tax liabilities support – judged on a case by case basis - call 0800 024 1222 for further information
  • Protection from eviction for commercial tenants up until 30th June
  • Business rates holiday for retail, hospitality and leisure businesses (automatically enforced by your local authority)
  • Retail and Hospitality Grant Scheme offers a cash grant of £25,000 to retail, hospitality and leisure businesses with a rateable value between £15,000 and £51,000 – Contact your local authority for more information and eligibility queries - https://www.gov.uk/find-local-council
  • Retail and Hospitality Grant Scheme offers a cash grant of £10,000 to retail, hospitality and leisure businesses with a rateable value up to £15,000 – Contact your local authority for more information and eligibility queries - https://www.gov.uk/find-local-council
  • Small Business Grant Scheme of £10,000 on off payment for businesses that pay little to no business rates because of small business rate relief, rural rate relief and tapered relief - Contact your local authority for more information and eligibility queries - https://www.gov.uk/find-local-council


For businesses in Scotland, Wales and Northern Ireland there are variations on all the above schemes available. For further information please see the following links:

https://www.gov.uk/guidance/coronavirus-covid-19-i...

https://www.gov.uk/guidance/coronavirus-covid-19-i...

https://www.gov.uk/government/news/covid-19-guidan...

For all the nitty gritty and to find out what exactly you need to do to apply for these schemes, grants and rebates please visit the government’s Coronavirus hub - https://www.gov.uk/government/publications/guidanc...