01/04/2020
HMRC have put in place a number of measures to help companies during the Covid-19 outbreak. Details can be found at https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses.
The measures include;
a Coronavirus Job Retention Scheme
deferring VAT and Self-Assessment payments
a Self-employment Income Support Scheme
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 £15,000 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 latest information is in the above link but if you have specific questions not covered by this, please contact us to discuss. Our clients can also benefit from HR and legal advice if they are looking to furlough workers for example. Get in touch if this might be of use to you.