Businesses are advised to keep updated on the latest information and advice to inform their response to Coronavirus (COVID-19). The links and information on this page provide advice and guidance around Coronavirus.
If you need specific support or help on Coronavirus related issues please do get in touch and speak to one of our team directly.
Business rates
What is it?
The UK government is temporarily increasing the Business Rates discount to all businesses in the retail, hospitality and leisure sectors in England to 100% for 2020-21, irrespective of rateable value. Businesses that received the retail discount in the 2019 to 2020 tax year will be rebilled by their local authority as soon as possible.
There may be some variations among the devolved nations.In Northern Ireland there will be a three–month rates holiday for all business ratepayers, excluding public sector and utilities. The effect of this is that no rates will be charged for Q2 2020 and will be shown as a 25% discount on the annual rate bill. Business rate bills will also not be issued until June 2020. In Wales, retail, leisure and hospitality businesses with a rateable value of £51,000 or less will receive a 100% business rates discount.
Am I eligible?
You are eligible for the business rates holiday if your business is in the retail, hospitality and/or leisure sector. Properties that will benefit from the relief will be occupied hereditaments that are wholly or mainly being used: as shops, restaurants, cafes, drinking establishments, cinemas and live music venues, for assembly and leisure, as hotels, guest & boarding premises and self-catering accommodation. For more information on eligibility please refer to the Expanded Retail Discount 2020/21: Coronavirus Response – Local Authority Guidance.
What do I need to do to access it?
There is no action for you. This will apply to your next bill in April 2020. However, local authorities may have to reissue your bill automatically to exclude the business rate charge.
Who do I need to speak to?
In England, speak to your local authority (likely to be the billing authority for rates).For details on accessing schemes in the devolved nations follow the links at the bottom of the document.
Lending schemes
What is it?
Pay As You Grow (PAYG) will enable businesses who have started repaying their Bounce Back Loans to:
- request an extension of their loan term to 10 years from six years, at the same fixed interest rate of 2.5%
- reduce their monthly repayments for six months by paying interest only. This option is available up to three times during the term of their Bounce Back Loan
- take a repayment holiday for up to six months. This option is available once during the term of their Bounce Back Loan.
Borrowers can use these options individually or in combination with each other and remain responsible for repaying their Bounce Back Loan and fully liable for the debt.
Borrowers should be aware that they will pay more interest overall if they use one or more of these options, and that the length of the loan will increase in line with any repayment holidays taken.
Am I eligible?
PAYG is available to all businesses who have taken out a Bounce Back loan subject to the restrictions outlined above.
What do I need to do to access it?
Businesses first began to receive BBLS loans in May 2020 and the first repayments will become due from May 2021 onwards. Lenders will start to communicate PAYG options to Bounce Back Loan Scheme borrowers three months before repayments commence.
Who do I need to speak to?
Lenders will inform their customers about PAYG directly, so borrowers should wait until they are contacted by their lender before enquiring about the scheme. Lenders will advise customers about how their repayment options may change according to their choices under the scheme.
What is it?
The Bounce Back Loans scheme will offer loans from £2,000 up to 25% of a business’ turnover or £50,000, whichever is lower. On 2 November, the BBLS rules were amended to allow those businesses who have borrowed less than their maximum (i.e. less than 25% of their turnover) to top-up their existing loan.
Businesses will be able to take-up this option from week commencing 8 November and they can make use of this option once. The Government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months.
The government has then set the interest rate for this facility at 2.5% per annum for subsequent years. No repayments will be due during the first 12 months. Length of the loan is for six years.
There will be a short, standardised online application to apply for a loan. new ‘Pay as You Grow’ flexible repayment system will provide flexibility for firms repaying a Bounce Back Loan. This includes extending the length of the loan from six years to ten, which will cut monthly repayments by nearly half. Interest-only periods of up to six months and payment holidays will also be available to businesses.
Businesses will be given until the end of March 2021 to access the Bounce Back Loan Scheme. Further information can be found here.
Am I eligible?
Your business must be able to self‑declare to the lender that it:
- has been impacted by the Coronavirus pandemic.
- was not a business in difficulty at 31 December 2019 (if it was, you must confirm your business complies with additional state aid restrictions under de minimis state aid rules).
- is engaged in trading or commercial activity in the UK and was established by 1 March 2020.
- is not currently using a government-backed Coronavirus loan scheme, unless the Bounce Back Loan will refinance the whole of the CBILS, CLBILS or CCFF facility.
- is not in bankruptcy or liquidation or undergoing debt restructuring at the time it submits its application for finance.
- derives more than 50% of its income from its trading activity (this requirement does not apply to charities or further-education colleges).
Bounce Back Loans are available to businesses in all sectors, except the following:
- Credit institutions (falling within the remit of the Bank Recovery and Resolution Directive)
- Insurance companies
- Public-sector organisations
- State-funded primary and secondary schools
The borrower remains fully liable for the debt.
What do I need to do to access it?
You will need to fill in a short application form online, which self-certifies that your business is eligible for a loan under BBLS. If your business is eligible, it will be subject to appropriate customer fraud, Anti-Money Laundering and Know Your Customer checks. Some state aid restrictions may apply to your application.
Who do I need to speak to?
You should speak to your business banking provider or one of the accredited lenders. With high demand for BBLS facilities, finance providers recommend that you approach a lender via their website. Phone lines are likely to be busy and branches may not be able to handle enquiries in person.
What is it?
This scheme delivered by the British Business Bank, will enable small and medium sized businesses to apply for a loan, up to £5m, with the government providing a guarantee of 80% on each loan and with no interest due for the first twelve months.
CBILS supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. Personal guarantees of any form cannot be taken under the scheme for any facilities below £250k. The scheme will be delivered through commercial lenders.
CBILS lenders can extend the term of a loan up to ten years, providing additional flexibility for businesses who may otherwise be unable to repay their loans. The scheme will be delivered through commercial lenders. CBILS lenders can extend the term of a loan up to ten years, providing additional flexibility for businesses who may otherwise be unable to repay their loans.
Businesses will be given until the end of March 2021 to access the Coronavirus Business Interruption Loan Scheme. Further information can be found here.
Am I eligible?
A link to British Business Bank’s eligibility checklist can be found here.
The borrower remains fully liable for the debt.
What do I need to do to access it?
A guide how to apply can be found here.
An FAQ on CBILS can be found here.
Who do I need to speak to?
You should speak to your business banking provider or one of the accredited lenders. With high demand for CBILS facilities, finance providers recommend that you approach a lender via their website. Phone lines are likely to be busy and branches may not be able to handle enquiries in person.
What is it?
UK government will provide a guarantee of 80% to enable banks to make loans to firms with turnover of more than £45 million of up to £200 million. Companies borrowing more than £50m through CLBILS will be subject to restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. The maximum size for invoice finance and asset finance facilities under the scheme is £50m. Facilities will be available from 3 months up to 3 years and will be offered at commercial rates of interest. The scheme will be delivered through commercial lenders.
Businesses will be given until the end of March 2021 to access the Coronavirus Large Business Interruption Loan Scheme. Further information can be found here.
Am I eligible?
Your business must:
- Be UK-based in its business activity
- Have an annual turnover of more than £45 million
- Have a borrowing proposal which the lender would consider viable, were it not for the current pandemic, and for which the lender believes the provision of finance will enable the business to trade out of any short-term to medium-term difficulty
- Self-certify that it has been adversely impacted by the Coronavirus.
- Not have received a facility under the Bank of England’s Covid Corporate Financing Facility (CCFF).Covid-19 Corporate Financing Facility (CCFF)
Lenders will need further information to confirm eligibility. All lending decisions remain fully delegated to the accredited lenders.
The borrower remains fully liable for the debt.
What do I need to do to access it?
A guide how to apply can be found here.
An FAQ on CLBILS can be found here.
Who do I need to speak to?
You should speak to your business banking provider or one of the accredited lenders. With high demand for CLBILS facilities, finance providers recommend that you approach a lender via their website. Phone lines are likely to be busy and branches may not be able to handle enquiries in person.
What is it?
Aimed at start-ups and high growth businesses, the scheme will provide convertible loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal matched funding from private investors. There is no cap on the amount that the matched investor(s) may loan to the company. The scheme is open for applications until 31st Janu2021.
Am I eligible?
The company must have raised at least £250,000 in equity from third-party investors in previous funding rounds in the last five years (from 1 April 2015 to 19 April 2020, inclusive)
If the company is a member of a corporate group, it must be the ultimate parent company
The company does not have any of its shares or other securities listed on a regulated market, a multilateral trading facility, a recognised investment exchange and/or any other similar market, stock exchange or listing venue
The company must be a UK incorporated limited company
The company must have been incorporated on or before 31 December 2019
At least one of the following must be true for the company:
- Half or more employees are UK based
- Half or more revenues are from UK sale
What do I need to do to access it?
This is an investor-led scheme, meaning that a lead investor applies on behalf of themselves and may provide information about other investors making up the investment round, in connection to a company:
Investor applies – The investor, or lead investor of a group of investors, certifies they meet the scheme eligibility criteria and provides key investment details. Information for investors can be found here.
- Company confirms – The company confirms the accuracy of the investment application details provided, before submitting the full application.
- Contract is finalised – In the case of approved applications, all parties will execute an agreement (in the template form provided) and satisfy certain conditions set out in the agreement before the funds are released.
Future Fund portal is now live and can be accessed here.
An FAQ on Future Fund can be found here.
Who do I need to speak to?
Speak to your investor(s)/potential investor(s). The Future Fund does not offer a ‘matchmaking’ service where companies can find investors on the portal. Investors are strongly recommended by the British Business Bank to confirm the commitment of any other investors investing alongside them before submitting an application for an Investee Company.
Covid-19 Corporate Financing Facility (CCFF)
What is it?
The Bank of England will provide funding – aimed at large businesses – by purchasing commercial paper of up to one-year maturity. The facility will offer financing on terms comparable to those prevailing in markets in the period before the impact of Coronavirus. The facility will look through temporary impacts on firms’ balance sheets and cash flows by basing eligibility on firms’ credit ratings prior to the Coronavirus shock. The scheme will operate for at least 12 months.
Am I eligible?
The scheme is open to firms that can demonstrate that they were in sound financial health prior to the impact of Coronavirus. Companies who wish to use the scheme do not need to have issued commercial paper before. Here is further information for firms looking to participate in the scheme.
If your firm does not have an existing credit rating from the major credit ratings agencies, the Bank of England recommend that you speak to your bank in the first instance.
If that bank’s advice is that the firm was viewed internally as equivalent to investment grade as at 1 March 2020, then contacting the Bank of England at: CCFFeligibleissuers@bankofengland.co.uk to discuss your potential eligibility. The central bank will then make an assessment of whether you can be deemed as equivalent to having a public investment grade rating.
When can I access the scheme?
The scheme is open for applications.
Who do I need to speak to?
Speak to your bank. It is important to note that not all banks issue commercial paper. If your bank does not issue commercial paper, UK Finance has provided a list of those banks that are able to assist.
Business grants
What is it?
A one-off top up grant for retail, hospitality and leisure businesses worth up to £9,000 per property and is in addition to existing grant support. The one-off top-ups will be granted to closed businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
Am I eligible?
Your business may be eligible if it:
- is based in England
- occupies property on which it pays business rates (and is the ratepayer)
- has been required to close because of the national restrictions from 5 January 2021 onwards
- has been unable to provide its usual in-person customer service from its premises
- This could include non-essential retail, leisure, personal care, sports facilities, tourism and hospitality businesses. It could also include businesses that operate primarily as an in-person venue, but which have been forced to close those services and provide a takeaway-only service instead.
Eligible businesses can get one grant for each non-domestic property.
You cannot get funding if:
- you can continue to operate during the period of restrictions because you do not depend on providing direct in-person services from your premises (for example, accountants)
- you have chosen to close, but have not been required to close as part of national restrictions
- your business is in administration, insolvent or has been struck off the Companies House register
- you have exceeded the permitted subsidy limit
- You must notify your local council if your situation changes and you no longer meet the eligibility criteria.
To find out if you are eligible, click here.
What do I need to do to access it?
Visit your local council’s website to find out how to apply.
Guidance for local authorities can be found here.
Who do I need to speak to?
Speak to your local council.
What is it?
Businesses required to close in England due to local or national restrictions will be eligible to receive the following:
- For properties with a rateable value of £15,000 or under, grant of £1,334 per 28-day qualifying restriction period.
- For properties with a rateable value over £15,000 and below £51,000, grant of £2,000 per 28-day qualifying restriction period.
- For properties with a rateable value of exactly £51,000 and over, grant of £3,000 per 28-day qualifying restriction period.
Am I eligible?
Businesses that are eligible are those that have been mandated to close by Government and include non-essential retail, leisure, personal care, sports facilities and hospitality businesses.
What do I need to do to access it?
Access to the grants can vary by Local Authority. Speak to your Local Authority for more details.
Government guidance for Local Authorities can be found here and accompanying addendum for Local Authorities can be found here.
Guidance has been updated with details of grants available during the national restriction period from 5 January 2021, onwards. To check if your business is eligible for a cash grant from your local council for each period under national restrictions, click here.
Who do I need to speak to?
Speak to your Local Authority for more details.
What is it?
UK government are providing additional funding to allow Local Authorities (LAs) for in high-alert level areas which are not legally closed, but which are severely impacted by the restrictions on socialising. The funding LAs will receive will be based on the number of hospitality, hotel, B&B, and leisure businesses in their area.
LAs will receive a funding amount that will be the equivalent of:
- For properties with a rateable value of £15,000 or under, grants of £934 per month.
- For properties with a rateable value over £15,000 and below £51,000, grants of £1,400 per month.
- For properties with a rateable value of exactly £51,000 and over, grants of £2,100 per month.
With national ‘lockdown’ restrictions being imposed, the Local Restrictions Support Grant (Open) currently ceases to apply, as relevant businesses will receive funding from the Local Restrictions Support Grant (Closed). However, businesses who have who have already been subject to enhanced restrictions (Local Covid Alert Levels ‘High’ and ‘Very High’) will still the receive the grants backdated up to August 2020 if they’ve been operating with enhanced restrictions since then.
Am I eligible?
The grant is aimed at hospitality, hotel, bed & breakfast and leisure businesses. Local Authorities will have discretion as to how to award grant funding to individual businesses.
What do I need to do to access it?
Access to the grants can vary by Local Authority. Speak to your Local Authority for more details.
Government guidance for Local Authorities can be found here.
Who do I need to speak to?
Speak to your Local Authority for more details.
What is it?
Local authorities in England will receive one off funding of £1.1 billion to support businesses more broadly over the coming months which they can use this at their discretion. This will be distributed to local authorities on the basis of £20 per head of population.
Am I eligible?
The UK government will provide grant funding to Local Authorities under national and tier 3 restrictions. Local Authorities can determine how much funding to provide to businesses from the ARG funding provided, and exactly which businesses to target.
However, the UK government are encouraging Local Authorities to develop discretionary grant schemes to help those businesses which – while not legally forced to close – are nonetheless severely impacted by the restrictions put in place to control the spread of Covid-19. .
What do I need to do to access it?
Speak to your Local Authority for more details.
Government guidance for Local Authorities can be found here.
Who do I need to speak to?
Speak to your Local Authority for more details.
Job Support
What is it?
Businesses can claim for some of your employee’s wages if they have put them on furlough or flexible furlough because of Coronavirus.
In his Budget on 3 March 2021, the Chancellor of the Exchequer, the Rt Hon Rishi Sunak MP announced an extension of the Coronavirus Job Retention Scheme to September 2021 across the UK. Employers will be expected to pay 10% towards the hours their staff do not work in July, increasing to 20% in August and September, as the economy reopens.
Under the furlough scheme, employees placed on leave receive 80% of their pay, up to a maximum of £2,500 a month.The extension will apply UK-wide and eligible employers across the UK, small or large, including charitable or non-profit, will be able to claim for the extended CJRS. Businesses will have flexibility to use the scheme for employees for any amount of time and shift pattern, including furloughing them full-time. Employers will need to agree a furlough agreement with the employee. For the hours not worked, employers will only be asked to cover National Insurance and employer pension contributions which, for the average claim. For the hours worked, employers will need to cover employees’ contracted wages, National Insurance and employer pension contributions.
In January 2021, the UK government will review the policy to decide whether economic circumstances have improved enough to ask employers to contribute more.
The Job Support Scheme and Job Retention Bonus have been postponed.
Am I eligible?
Neither the employer nor the employee needs to have previously claimed or have been claimed for under CJRS to make a claim under the extended CJRS (if other eligibility criteria below are met).
Employers:
- All employers with a UK bank account and a UK PAYE payroll scheme that was registered on or before 30 October can claim the grant. This includes businesses, charities, recruitment agencies and public authorities.
- The employer must have made a PAYE Real Time Information (RTI) submission to HMRC between 20 March 2020 and 30 October 2020, notifying a payment of earnings for that employee.
- The UK government expects that publicly funded organisations will not use the scheme, as has already been the case for CJRS, but partially publicly funded organisations may be eligible where their private revenues have been disrupted. All other eligibility requirements apply to these employers.
Employees:
- Furloughed employees must have been employed and on an employer’s PAYE payroll on 30 October 2020. This means a Real Time Information (RTI) submission notifying payment for that employee to HMRC must have been made on or before 30 October 2020.
- As under the current CJRS rules, employees can be on any type of employment contract.
- Employers can claim the grant for the hours their employees are not working, calculated by reference to their usual hours worked in a claim period.
- If employees were on payroll as of 23 September 2020 (i.e. notified to HMRC on an RTI submission on or before 23 September) and were made redundant or stopped working for their employer afterwards, they can also qualify for the scheme if their employer re-employs them.
Click here to find out which employees you can put on furlough to use the Coronavirus Job Retention Scheme. Click here to check if you can claim for your employees’ wages through the Coronavirus Job Retention Scheme.
What do I need to do to access it?
The extended Coronavirus Job Retention Scheme will operate as the previous scheme did. An employer can make their claim in anticipation of an imminent payroll run, at the point they run their payroll or after they have run their payroll.
- Claims can be made from 8am Wednesday 11 November and as previously, paid after 6 working days.
- Employers must report and claim for a minimum period of 7 consecutive calendar days.
- Employers will need to report actual hours worked and the usual hours an employee would be expected to work in a claim period.
- Guidance has been updated with new calculation examples to cover the lookback period and examples to clarify eligibility for the annually paid. For examples to cover the lookback period, click here, and for examples to clarify eligibility for the annually paid, click here.
Self-employment
What is it?
The Self-employment Income Support Scheme (SEISS) will provide grant support to self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19.
In his Budget on 3 March 2021, the Chancellor of the Exchequer, the Rt Hon Rishi Sunak MP announced an extension of the UK-wide Self Employment Income Support scheme to September 2021, with 600,000 more people who filed a tax return in 2019-20 now able to claim for the first time.
Is this grant subject to tax?
Yes – individuals will pay Income Tax and National Insurance on any payments received through this scheme as they are replacement for income in line with normal practice for benefits or grants that replace income. The grant is recognised as income for the purposes of Universal Credit and Tax Credits and may impact the amount claimants are entitled to.
What should self-employed people do while they wait to be paid?
In the interim, self-employed individuals may be eligible for universal credit. The government has provided over £6.5bn of additional support through the welfare system for those affected by Coronavirus.
Why does this scheme not cover small businesses who are incorporated?
Self-employed individuals who are owner-managers and pay themselves a salary through PAYE will be eligible for support through the Coronavirus Job Retention Scheme. SMEs can also access support through the temporary Coronavirus Business Interruption Loan Scheme. This supports SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.
This new Self-Employment Income Support Scheme is open to anyone who reports trading profits through Income Tax Self-Assessment. Self-employed individuals who work through a company do not report their trading profits in this way.
Am I eligible?
At the Budget it was confirmed that the fourth SEISS grant will be set at 80% of 3 months’ average trading profits, paid out in a single instalment, capped at £7,500. The fourth grant will take into account 2019 to 2020 tax returns and will be open to those who became self-employed in tax year 2019 to 2020. The rest of the eligibility criteria remain unchanged.
Your eligibility for the scheme will now be based on your submitted 2019 to 2020 tax return. This may also affect the amount of the fourth grant which could be higher or lower than previous grants you may have received.
Find out if you’re eligible for the fourth grant which will cover the period February 2021 to April 2021.
How do I access it?
Take a look at updated guidance for the fourth grant here.
When can I access it?
The online claims service for the fourth grant will be available from late April 2021 until 31 May 2021.
If you are eligible, HMRC will contact you in mid-April to give you your personal claim date. This will be the date that you can make your claim from.
There will be more guidance about the fourth grant in due course.
Sick Pay
What is it?
Small- and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. SSP is payable from day one of sickness absence.
Am I eligible?
The eligibility criteria for the scheme will be as follows:
- this refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19
- employers with fewer than 250 employees will be eligible – the size of an employer will be determined by the number of people they employed as of 28 February 2020
- employers will be able to reclaim expenditure for any employee who has claimed SSP (according to the new eligibility criteria) as a result of COVID-19
- employers should maintain records of staff absences and payments of SSP, but employees will not need to provide a GP fit note. If evidence is required by an employer, those with symptoms of coronavirus can get an isolation note from NHS 111 online and those who live with someone that has symptoms can get a note from the NHS website
- eligible period for the scheme will commence the day after the regulations on the extension of SSP to those staying at home comes into force
If you are not eligible for SSP – for example if you are self-employed you have COVID-19 or are advised to stay at home, you can now make a claim for Universal Credit or a new style Employment and Support Allowance. From 6 April 2020, the requirements of the Minimum Income Floor will be temporarily relaxed and will last for the duration of the outbreak. New claimants will not need to attend the jobcentre to demonstrate gainful self-employment.
What do I need to do to access it?
A rebate scheme is being developed. Further details will be provided in due course once the legalisation has passed.
Who do I need to speak to?
TBC, but likely to be the Department for Work and Pensions.
Tax
What is it?
All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.
Am I eligible?
You are eligible if your business pays tax to the UK government and has outstanding tax liabilities.
What do I need to do to access it?
If you have missed a tax payment or you might miss your next payment due to COVID-19, please call HMRC’s dedicated helpline: 0800 0159 559. If you’re worried about a future payment, HMRC advice to call them nearer the time.
Who do I need to speak to?
Call HMRC’s new helpline: 0800 024 1222
Open from 8am to 4pm Monday to Friday.
What is it?
Businesses that deferred VAT due in March to June 2020 will be given more breathing space through the New Payment Scheme, which gives them the option to pay back in smaller instalments. Rather than paying a lump sum in full at the end March next year, they will be able to make 11 smaller interest-free payments during the 2021-22 financial year. All businesses that took advantage of the VAT deferral can use the new payment scheme. Businesses will need to opt-in, but all are eligible. For the self-employed, they will be able to benefit from a separate additional 12-month extension from HMRC on the “Time to Pay” self-service facility, meaning payments deferred from July 2020, and those due in January 2021, will now not need to be paid until January 2022.
Am I eligible?
All UK businesses are eligible.
What do I need to do to access it?
This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period.
VAT returns should be filed as usual. In order to ensure payments are not taken automatically, direct debits should be cancelled. VAT refunds and reclaims will be paid by the government as normal.
Who do I need to speak to?
This is an automatic offer with no applications required.
What is it?
The temporary reduced rate of VAT (5%) for businesses in hospitality and tourism has been extended from 12 January to 31 March 2021.
Am I eligible?
This will apply to supplies of food and non-alcoholic drinks from restaurants, pubs, bars, cafés and similar premises, supplies of accommodation and admission to attractions across the UK. Businesses will also be able to charge the reduced rate of VAT on your supplies of hot takeaway food and hot takeaway non-alcoholic drinks.
What do I need to do to access it?
This is an automatic offer with no applications required.
Who do I need to speak to?
This is an automatic offer with no applications required.
Relaxing of rules and regulations
Measures from the Corporate Insolvency and Governance Act extended, including allowing firms to hold virtual AGMs until 30 December 2020 and statutory demands and winding-up petitions restricted until 31 December 2020.
The UK government has published a full list of the rules that have been temporarily relaxed to make it easier for businesses to continue working through the disruption caused by Coronavirus.
Commercial tenants who cannot pay their rent because of Coronavirus will be protected from eviction. This will mean that until the end of 2020 no business will be forced out of their premises if they miss a payment. Commercial tenants will still be liable for the rent after this period.
Apprenticeships, Traineeships and Kickstart
The UK government has introduced a new Kickstart Scheme in Great Britain, a £2 billion fund to create hundreds of thousands of high quality 6-month work placements aimed at those aged 16-24 who are on Universal Credit and are deemed to be at risk of long-term unemployment.
Funding available for each job will cover 100% of the relevant National Minimum Wage for 25 hours a week, plus the associated employer National Insurance contributions and employer minimum automatic enrolment contributions. See more details here.
The UK government will introduce a new payment of £2,000 to employers in England for each new apprentice they hire aged under 25, and a £1,500 payment for each new apprentice they hire aged 25 and over, from 1 August 2020 to 31 January 2021.
Employers can now apply for a £1000 cash support to help them take on new trainees. The aim of the new scheme is to support young people to gain the skills and experience, by providing facilities, uniforms or helping with travel costs. Businesses offering new traineeship opportunities will receive the £1,000 bonus for every trainee they take on with up to a maximum of 10 trainees. Employers can claim the cash incentive for all work placements that have been completed since 1 September. The cash support is available until 31 July 2021 and details on how to apply can be found here.
