The government has announced an unprecedented package of measures to support the self employed, small businesses and families through the coronavirus pandemic. Organisations both large and small have also come out to offer support. But with all the 'noise' about the impact of the impact of coronavirus, it can be difficult to know where to start
We have collated some of the best resources out there so that you can find what you want with minimal effort.
UK government business support information
The government has a range of measures in place including the Coronavirus Job Retention Scheme and the Self-Employed Income Support Scheme. We have pulled together the main sources of coronavirus government advice and the key telephone support lines into one place.
- HMRC webinar - 'Running your business through coronavirus (COVID-19)'
Coronavirus business loan and financing schemes
A range of business support measures have been made available to UK businesses. Eligibility for the different schemes will depend on the size of your business and in some cases the sector you are in.
- Small Business Grant Fund - retail, hospitality and leisure
- Coronavirus Business Interruption Scheme - small and medium-sized businesses, with an annual turnover of up to £45 million
- Coronavirus Large Business Interruption Scheme - large businesses, with an annual turnover of between £45 million and £500 million
- COVID-19 Corporate Financing Facility
- Find a list of COVID-19 Loan / Coronavirus Business Interruption Scheme providers and their criteria.
VAT and tax deferral schemes
All businesses and self-employed people with outstanding tax liabilities, may be eligible to receive support through HMRC’s Time To Pay service if they are experiencing financial difficulties as a result of the COVID-19 outbreak.
- VAT registered UK businesses with a VAT payment due between 20 March 2020 and 30 June 2020 can opt to defer the VAT payment to a later date.
- Delay your second payment on account due (31 July 2020) until 31 January 2021 if you are experiencing financial difficulties as a result of coronavirus.
- HMRC tax support helpline for businesses and self-employed individuals struggling to pay their tax (COVID-19): 0800 0159 559 (Monday to Friday 8am to 8pm, and Saturday 8am to 4pm)
- Use the HMRC webchat service if you have missed or are likely to miss a tax payment (Monday to Friday, 8am to 4pm).
Support for the self employed and small limited companies
- Government guidance on the Self Employment Income Support Scheme
- HM Government Self Employment Income Support Scheme FAQs
- Video from Martin Lewis of MoneySavingExpert.com on the Self Employment Income Support Scheme
- Government guidance on Self Employment and the Universal Credit.
- Mortgage payment holiday advice from the Financial Conduct Authority.
- The Financial Conduct Authority has agreed a range of temporary measures to help people with some of the most commonly used consumer credit products.
- Time To Pay - HMRC tax support helpline for businesses and self-employed individuals struggling to pay their tax (COVID-19): 0800 0159 559 (Monday to Friday 8am to 8pm, and Saturday 8am to 4pm).
- Calculate how much grant you are likely to get under the Self Employment Income Support Scheme with this tool from Counting Up.
- Video from Martin Lewis of MoneySavingExpert.com for directors of small limited companies.
- Discover the support offered by the main lenders including mortgage holidays.
- Use this energy healthcheck tool to reduce energy costs.
- Read this great article on tips for staying focussed and productive when working from home from Wizcase.
Business rate reliefs
In addition to the usual business rates reliefs – for example, rural rate relief for some rural businesses, the government has announced temporary relief for certain businesses in the retail, hospitality and leisure sectors as well as nurseries. Eligible businesses will have the discount applied automatically by their local authority.
Advice on furloughed employees
The government's Coronavirus Job Retention Scheme allows employers to place workers who would otherwise be made redundant or laid off as a result of the COVID-19 crisis on 'furlough'. This concept is new to many employers, so several organisations have made advice and resources available on for businesses who are considering furloughing workers.
- Government guidance on the Coronavirus Job Retention Scheme
- HMRC webinar - 'Coronavirus (COVID-19): helping employers support employees'
- CIPD introduction to furlough (guide download and video)
- Acas Furlough agreement letter
- Calculate the grant available to you under the Job Retention Scheme (JRS) when you place your employees on furlough with the furlough calculator tool from Counting Up
- Listen to the podcast or read 'Furloughing employees - FAQs - your questions answered' from Wright Hassle
Statutory sick pay during the COVID-19 outbreak
Workers who 'self-isolate' will receive statutory sick pay from day one (normally sick pay is not payable until the fourth day of sickness). The Coronavirus Statutory Sick Pay Rebate Scheme will allow employers to reclaim up to 14-days' SSP paid to workers who are unable to work because they have coronavirus or because they must self-isolate.
- Government guidance on the Coronavirus Statutory Sick Pay Rebate Scheme [Note that the online service to reclaim the rebate is not expected until the end of April]
- ICAEW advice on recovering statutory sick pay
- 111 isolation note during COVID-19