Government support for businesses affected by Covid-19

This is a summary of key points we know so far about Government support measures for businesses affected by the novel Coronavirus, which include:

a Coronavirus Job Retention Scheme deferring VAT and Income Tax payments 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 £15,001 and £51,000 the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank the HMRC Time To Pay Scheme

This document was originally published on https://www.dtegroup.com/news/blog/government-support-for-businesses-affected-by-covid-19-updated-24th-march. Please visit our website for the most up to date information and advice for businesses relating to Covid19.