The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.

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The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.

Coronavirus Business Interuption loan Scheme (CBILS)

29 April 2020: the UK’s seven largest small business lenders have relaxed evidence requirements for applications to the existing Coronavirus Business Interruption Loan Scheme.

HMRC have released a business support finder to easily find what support is avilable for your business:

VAT DEFERRAL: 

Please cancel your VAT Direct Debit to take advantage of the deferral.

• All UK businesses are eligible
• This is an automatic offer with no applications required.  Businesses will not need to make a VAT payment during this period and be given until 31/03/2021 to pay any liabilities that have been accumulated during the deferral period.
• VAT Refunds and reclaims will be paid as normal

COVID-19: Summary Of Help Available 

1. Business Rates
2. Statutory Sick Pay
3. Time to pay helpline for HMRC liabilities (PAYE, corporation tax, personal tax due etc)
4. VAT and Income Tax Deferral
5. Job Retention Scheme (Covers 80% of eligible wages) - Includes people trading as limited companies and who are on the payroll
6. Government backed loans – To keep cash flow moving until the grants, job retention scheme is up and running
7. Self employed Universal Credit Claim
8. Self employed support scheme - Sole traders and partnerships
9. Mortgage and Rent holidays

Self-Employed Income Support Scheme Announced