COVID-19 Employers and Employees: Access the UK Government Coronavirus support
In the last two weeks the UK Government has unveiled perhaps the most comprehensive package of support for industry and workers at anytime in this country’s history.
There is no doubt that in these unprecedented times support of this kind is absolutely necessary. Whether the package of support is enough probably only time will tell. Whatever the situation we at Thomson Webb & Corfield wish you the very best through these challenging and uncertain times.
For those of you who have been unable to follow the continual updates the support falls into a number of categories: –
This includes a package of measures to support businesses including:
- 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
- a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
- the HMRC Time To Pay Scheme
The details is being updated regularly both because of the introduction of new forms of support or because HMRC are providing greater details on the already published support. You can follow the updates here: –
Thomson Webb & Corfield remains open for business. We use technology to ensure that ‘business as usual’ is possible across the business.