Job Retention Scheme
Available to all employers –paying 80% of gross salary plus ERS Nic and minimum pension contributions for furloughed employees. Scheme initially running March –June 2020.
Deferring Vat Payments
VAT payments due between 20 March 2020 and 30 June 2020 can be deferred until 31.1.2021-you still need to file your VAT returns –make sure you cancel Direct debit arrangements in good time this is an automatic relief-no application necessary.
Deferring Self-Assessment Payments On Account Due 31 July 2020
Any taxpayer due to make a payment on 31 July 2020 can defer it until 31.1.2021.
This is an automatic relief –no application is necessary
Self-Employed Income Support Scheme
Pays 80% of the average last 3 years trading profits IF they are over 80% of taxable income and the taxpayer has suffered a loss of business due to COVID-19.
Statutory Sick Pay
Support for small and medium-sized businesses.
12 Month Business Rate Holiday For Retail Premises, The Hospitality, Leisure, And Nursery Sectors
£10,000 grant for those in receipt of small business rate relief or rural rate relief.
£25,000 grant for hospitality and leisure businesses with the property of rateable value between £15,000 and £51,000.
Coronavirus Business Interruption Loan Scheme
To support long term viable businesses-available via the banks –up to £250,000 unsecured loans, 12-month interest, and payment holiday, maximum repayment term 6 years.
Lending Facilities Via Bank Of England To Help Support Larger Businesses Bridge Liquidity Issues
For the HMRC Time To Pay Scheme CALL 0800 024 1222