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COVID-19 : SUPPORT FOR BUSINESSES

The Chancellor set out a package of measures yesterday, in addition to those announced in the Budget 2020, to help support public services, people and businesses during this challenging time.

These include:

• statutory sick pay relief package for SMEs
• a 12-month business rates holiday for all retail, hospitality and leisure businesses in England
• a small business grant funding of £10,000 for all businesses 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 £15,000 and £51,000
• the Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash flow pressures by seeking additional finance
• the HMRC time to pay scheme

Keep up to date with any further government announcements here.

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