Updated Coronavirus (Covid-19) Information for Businesses

20 Mar 2020

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. 

The following is the current key information, for more detailed information please visit our Covid-19 Businesses Support Page:

 

Small Business Grant Funding of £10,000

The Government have announced that Businesses currently eligible for Small Business Rate Relief will receive grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief.

Support for businesses that pay business rates

Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000

Extended business rates discount for leisure, catering, tourism and retail

The existing Retail Discount scheme has been extended and eligible businesses in the leisure, catering, tourism and retail sectors who have a rateable value of £51,000 or less will receive 100% discount for the 2020/2021 financial year. 

How to apply and the eligibility of the expanded retail discount can be found on our Invest in Bath page. Existing recipient of the 2019/20 Retail Business Rate Discount need NOT apply, the extended discount will be automatically added to their bill.

www.investinbath.co.uk/news/expanded-retail-business-rates-discount

Support for businesses paying tax: Time to Pay service

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.

Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch early next week to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance. Information is available on the British Business Bank website.

Statutory Sick Pay

For businesses with fewer than 250 employees, the cost of providing 14 days of statutory sick pay per employee will be refunded by the government in full. This will provide 2 million businesses with up to £2 billion to cover the costs of large-scale sick leave.

We recognise that this is a rapidly evolving situation, so please follow the Invest in Bath twitter @InvestinBath for key updates.

Other Key Links:

If you’re receiving benefits you may be able to get extra help on skills and training through a FutureBright work coach: https://www.westofengland-ca.gov.uk/future-bright/

3SG is leading on recruiting volunteers and coordinating local charities across Bath & North East Somerset: https://www.3sg.org.uk/

NHS jobs: https://www.jobs.nhs.uk/

Mental Health Advice: https://www.nhs.uk/oneyou/every-mind-matters/

Job Centre Plus: https://www.jobcentreguide.co.uk/jobcentre-plus-guide/4/what-is-the-jobcentre-plus

Universal Credit Information: https://www.understandinguniversalcredit.gov.uk/coronavirus/

https://www.gov.uk/apply-universal-credit