The government has announced some wide-ranging support measures for businesses.
- The coronavirus job retention scheme which will pay 80% of employees pay up to a maximum of £2,500 (employee needs to be on the payroll on 28 Feb 2020, the minimum furlough period is 3 weeks and the employee cannot work for the company during furlough)
- Extra time to pay taxes
- Business rates holiday for certain sectors
- Cash grants (depending on your premises’ rateable value)
- Business interruption loan (interest free for 12 months)
The situation is changing all the time. Please do check the latest guidance before acting on anything.
Please contact us if you need any help or support in accessing any of the government support. Also do contact us if you just want things to be explained in plain English!