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Coronavirus Business Support

Monday May 11th 2020

This page helps businesses find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply.

 

Support scheme Support organisation
Bounce Back Loan | UK-wide

Government-backed loans for UK-based small and medium-sized businesses ranging from between £2,000 and £50,000.

Accredited lenders
Coronavirus Large Business Interruption Loan Scheme | UK-wide

Provides a government guarantee of 80% to enable banks to make loans of up to £25m to firms with an annual turnover of between £45m and £500m.

British Business Bank
£10,000 Grant for Rental Properties & Total NAV of £1,590 or below | NI only

£10,000 Small Business Grant for businesses who are sole tenants of a rental property, or who own and occupy a property with a total NAV of £1,590 or less

Department for the Economy (DfE), Land & Property Services (LPS)
£10,000 Small Business Support Grant Scheme | NI only

£10,000 grant available to Northern Ireland businesses eligible for the Small Business Rate Relief Scheme and businesses with a Total Net Annual Value of £15,000 and below, who currently benefit from Industrial Derating.

Department for the Economy (DfE), Land & Property Services (LPS)
£25,000 Grant for Retail, Hospitality, Tourism and Leisure Sector Ratepayers | NI only

£25,000 grant for Northern Ireland companies in the retail, hospitality, tourism and leisure sectors with a Total Net Annual Value between £15,001 and £51,000.

Department for the Economy (DfE), Land & Property Services (LPS)
Artists Emergency Programme | NI only

Award of up to £5,000 to support individual artists, creative practitioners and performers.

Arts Council of Northern Ireland
Sports Hardship Fund | NI-only

£2,000 small grant scheme for sports clubs and sporting organisations from the voluntary and community sector in Northern Ireland.

NOTE: Sport Northern Ireland has suspended new applications to the Sports Hardship Fund pending confirmation of additional funding.

Sport NI
Future Fund | UK-wide

Government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.

British Business Bank
Business Rates Holiday | NI only

Three-month rates holiday for Northern Ireland non-domestic ratepayers (excluding public sector and utilities).

Land & Property Services (LPS)
Statutory Sick Pay Rebate | UK-wide

The UK government is to bring forward legislation to allow small and medium-sized businesses to reclaim Statutory Sick Pay (SSP) paid for staff sickness absence due to coronavirus.

HMRC
Self-Employment Income Support Scheme (SEISS) | UK-wide

Self-employed individuals or members of partnerships can claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for 3 months.

HMRC
Support for Businesses Paying Tax| UK-wide

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service.

HMRC
Deferral of Self- Assessment Payment | UK-wide

The Self- Assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.

HMRC
Coronavirus Business Interruption Loan Scheme | UK-wide

The temporary Coronavirus Business Interruption Loan Scheme (CBILS) supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years.

British Business Bank
Coronavirus Job Retention Scheme | UK-wideGovernment will cover 80 per cent of business staff wages, up to £2,500 per employee per month. HMRC
VAT Deferral | UK-wide

The UK government will defer Valued Added Tax (VAT) payments due between 20 March 2020 and 30 June 2020. VAT refunds and reclaims will be paid by the government as normal.

HMRC
Covid-19 Corporate Financing Facility | UK-wide

The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy short-term debt from larger companies.

Bank of England

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