Chancellor Rishi Sunak has set out a package of measures to support public services, people and businesses through the period of disruption caused by COVID-19.
Measures announced to support businesses including the significant package of measures announced on 17 March 2020:
- grant funding of £10,000 for small firms in receipt of Small Business Rate Relief (SBRR) and Rural Rates Relief
- grant funding of £25,000 for certain businesses in the retail, hospitality and leisure sectors
- a 12-month business rates holiday for businesses in the retail, hospitality and leisure sectors
- a temporary Coronavirus Business Interruption Loan Scheme to support businesses in accessing bank lending and overdrafts
- extended access to Statutory Sick Pay (SSP), with reliefs available to SMEs
- expanded access to HMRC's Time to Pay scheme.
Further measures have been announced, including the Coronavirus Job Retention Scheme and the Coronavirus Business Interruption Loan Scheme going live. There are also deferrals to VAT and income tax.
Find out more on these measures and the impact on your business.