A package of measures to support businesses through this period of disruption caused by COVID-19 has been announced since Budget day last week.
This package includes the following:
- a statutory sick pay relief package for SMEs;
- a 12-month business rates holiday for all retail, hospitality and leisure 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 to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance; and
- the HMRC Time To Pay Scheme (see above).
Note: not all of the above measures apply UK wide.
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