COVID 19 23 March 20

As outlined we want to provide you with updates and potentially useful information for your business. 

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This includes a package of measures to support businesses including:

·         a Coronavirus Job Retention Scheme

·         deferring VAT and Income Tax payments

·         a Statutory Sick Pay relief package for SMEs

·         small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
Below is a link to the Fife Council page relating to this, at present they have no information about how it will be paid.

·         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 offering loans of up to £5 million for SMEs through the British Business Bank. Below is a link to the British Business Bank.

·         a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans

·         the HMRC Time To Pay Scheme

Full details and links are in the document below.

Covid 19 230320