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What financial support is available for businesses during coronavirus?

The financial relief offered by the UK government has evolved since the start of the coronavirus pandemic.

Are you wondering what the latest changes are?

On 31 October 2020 the government announced that the Coronavirus Job Retention ‘furlough’ Scheme (JRS) will be extended to March 2021, as a result of new national lockdown measures. The Job Support Scheme (JSS) will be postponed until the current furlough scheme ends.

The extended furlough scheme is the same as the flexible furlough scheme that was available in August. Grants for self-employed workers scheme were also increased.

The JSS which was meant to replace the furlough scheme, has been postponed until March 2021 at the earliest. It will be available to all SMEs and larger businesses who can prove they have been negatively affected by the pandemic.

Download our guide to the existing financial relief and new measures now.

It provides the crucial details, eligibility and application process for:

  • Coronavirus Job Retention Scheme
  • Job Support Scheme
  • Bounce Back Loans for small businesses
  • Self-employed income support scheme (SEISS)
  • Covid-19 Corporate Financing Facility (CCFF)
  • Coronavirus Business Interruption Loan Scheme (CBILS)
  • Support for large businesses through the Coronavirus Large Business Interruption Loan Scheme (CLBILS)
  • Support for innovative UK companies through the Coronavirus ‘Future Fund
  • Grants for retail, hospitality and leisure businesses (‘RHLGF’)
  • Business Grants
  • Rates Relief
  • Support for businesses that pay little or no business rates (“small companies”)
  • Time to Pay arrangements “TTP”
  • Income Tax payment deferral

To understand how your business is affected, contact Zoe Feller.

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