Managing the Impact of Covid-19

In these difficult and uncertain times, we wanted to outline some of the Government support currently available to businesses.


All VAT payments due from 20 March 2020 until 30 June 2020 may be deferred to April 2021. This is available to ALL UK Businesses, Direct Debits should be cancelled, but the deferral applies automatically. Businesses will be given until 5th April 2021 to pay liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid as normal.

HMRC – Time To Pay service

Extended support through HMRC’s Time To Pay service.  Any business or Self-Employed individual with financial difficulties caused by COVID-19

The Help Line number is 0800 024 1222


Businesses may be able to ‘furlough’ employees, to safeguard against redundancies. HMRC will reimburse eligible employers 80% of the wage cost for each employee, capped at £2,500 per month.  The grant currently covers 80% of their usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and pension contributions (up to the level of the minimum automatic enrolment employer pension contribution) on that subsidised furlough pay. This funding level will remain in place until the end of July 2020. Details of the funding arrangements for the scheme from August 2020 until the end of October 2020 will be announced shortly. From August, employers currently using the scheme will have more flexibility to bring their furloughed employees back to work part time whilst still receiving support from the scheme. This will run for three months from August through to the end of October. Employers will be asked to pay a percentage towards the salaries of their furloughed staff. The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month. More specific details and information around its implementation will be made available by the end of May.

ALL UK business are eligible to use this scheme. Designate affected employees as furloughed and notify them of this. Submit details about affected employees through the Online Portal. Temporary scheme for 4 months from 1st March 2020, may be extended if necessary and employers can use this scheme anytime during this period.  The employer does not have to pay the remainder of the salary, and the employees will not be permitted to work for the business whilst furloughed.

The Small Business Grant Scheme

The Small Business Grant Scheme is providing funding of £10,000 to support small businesses to meet their ongoing business costs.

Under the Small Business Grant Fund (SBGF) all eligible businesses in England in receipt of either Small Business Rates Relief (SBRR) or Rural Rates Relief (RRR) in the business rates system will be eligible for a payment of £10,000.

Under the Retail, Hospitality and Leisure Grant (RHLG) eligible businesses in England in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for a cash grant of £10,000 or £25,000 per property.

Eligible businesses in these sectors with a property that has a rateable value of up to and including £15,000 will receive a grant of £10,000.

Eligible businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000.

Businesses with a rateable value of £51,000 or over are not eligible for this scheme. Businesses which are not ratepayers in the business rates system are not included in this scheme.

We hope that you find this information useful, and we will update you as and when new information becomes available.

Funding Scheme

Funding scheme for loans up to £5m, available to UK businesses generating up to £45m in revenues. The first 12 months will be interest free. The Government are providing the lenders with a guarantee of 80% of the balance, however, the borrower is liable for 100% of the balance. Some lenders may ask for security for the amount of the loan.  Loans are accessible through one of 40 lenders accredited by the British Business Bank

Statutory Sick Pay

The Government will reimburse eligible employers up to two weeks of statutory sick pay for employees off work due to COVID-19, available to small or medium sized UK businesses with fewer than 250 employees at 28th February 2020. Up to two weeks paid for sickness absence due to COVID-19 will be able to be claimed by employers.

Bounce Back Loans

Launched on 4th May 2020, Bounce Back Loans enable small businesses who are based in the UK and have been negatively affected by Coronavirus to apply to borrow between £2,000 and £50,000.  The Government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.  Loan term will be up to 6 years and there will be no repayments for the first 12 months. A flat rate of 2.5% interest will be charged on these loans.  Any business that has already taken out a Coronavirus Business Interruption Loan of £50,000 or less can apply to have these switched over to this generous new scheme, this must be done by 4th November 2020. The loans will be available through a network of lenders accredited by the British Business Bank.

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