CORONAVIRUS BUSINESS SUPPORT OVERVIEW
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.
This includes a package of measures to support businesses including:
- a Coronavirus Job Retention Scheme.
- deferring VAT and Income Tax payments.
- a Self-employment Income Support Scheme.
- a Statutory Sick Pay relief package for small and medium sized businesses (SMEs).
- additional Scottish Government business support – updated 27th April.
- 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.
- 100% Government guaranteed Business Bounce Back loans from £2,000 – £50,000 for SMEs – interest and repayment free for for the first 12 months.
- the Coronavirus Business Interruption Loan Scheme offering loans from £50,000 up to £5 million for SMEs through the British Business Bank’s accredited lenders.
- the Large Coronavirus Business Interruption Loan Scheme (LCBILS) offering loans of up to £25 million to businesses with turnover from £45 million – £250 million & up to £50 million to businesses with turnover of over £250 million.
- the HMRC Time To Pay Scheme.
To find out how CBILS will impact EIS Tax Relief, click HERE.
All pages within this section will be updated as more information becomes available.