Business support packages: latest updates

The government has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This information and advice is ever changing and developing. The latest information about these initiatives can be found here:

• Extra protection for businesses with ban on evictions for commercial tenants who miss rent payments. NEW
• Financial assistance for employers unable to pay statutory redundancy payments. NEW
• The Coronavirus Job Retention Scheme
• Deferring VAT and Income Tax payments
• Statutory Sick Pay relief package for SMEs
• 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
• Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
• Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
• The Coronavirus Business Interruption Loan Scheme offering loans of up to £5million for SMEs through the British Business Bank. NOW OPEN FOR APPLICATIONS
• A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans. NOW OPEN FOR APPLICATIONS
• The HMRC Time To Pay Scheme