Published: 14th April 2020
Updated: 3rd March 2021
The government has introduced a number of measures to support businesses impacted by COVID-19 that require temporary financial relief including the furlough scheme and emergency loans.
Initiatives available include:
To help UK businesses retain their staff on the payroll when business has been forced to stop.
A reprieve from paying business rates for those in the retail, leisure, and hospitality sector regardless of their rateable value.
UK-based companies with fewer than 250 employees will now be able to reclaim SSP which has been paid to employees for up to two weeks.
Non-repayable cash grants will be made available to help those in the retail, leisure, and hospitality industry hardest hit by the Covid-19 pandemic. 700,000, pubs, clubs, bars, hotels, restaurants, gyms, and hair salons will being given up to £18,000 each, while non-essential retailers will receive £6,000 per premise.
If you would like further information on the above, please speak to your usual Begbies Traynor contact, or fill in the form below to request a call back