CORPORATION TAX
COVID-19 SUPPORT FOR BUSINESSES
If your business has been affected by the disruption caused by COVID-19 (Coronavirus), you can apply for support from the government. We can advise you and your business and assist with all applications, to ensure you get all the support you need.
The support currently available to small businesses is listed below:
01
JOB RETENTION SCHEME
Retain your employees by obtaining HMRC reimbursements, covering 80% of wage costs.
02
DEFERRED TAX PAYMENTS
VAT & Self-Assessment liability deferrals (payment holidays) will be automatically granted by the government - however, liabilities will not be waived. Get advice to ensure you can afford repayments at the end of the deferral period.
03
STATUTORY SICK PAY (SSP) RELIEF
Apply for SSP rebates from the HMRC for staff unable to work due to COVID-19.
04
Business Interruption Loan Scheme
Obtain business interruption loans with government guarantees covering 80% of the funding, up to £5,000,000.
In addition to the above support, the government has also implemented (or is in the process of implementing) various schemes which will be automatically available to businesses (no application required).
The following 'automatic' schemes are currently available:
-
VAT and Income Tax payment deferrals;
-
business rates holiday for businesses in the retail, hospitality and leisure sectors;
-
business rates holiday for nurseries;
-
cash grants for retail, hospitality and leisure businesses;
-
small Business Grant Scheme funding (up to £10,000)
Is your business eligible for any automatic reliefs?
Eligibility criteria varies for each automatic scheme - for specific eligibility criteria, please visit HMRC's guidance to employers page for more details.
Automatic relief schemes - is any action required by me?
For tax payment deferral schemes, you will be notified of the new payment deadlines by HMRC.
For retail, hospitality and leisure business reliefs, your local authority will write to you to advise of the amount of any relief available.
£200
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Unsure how to apply for reliefs, or
need general business advice
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Has your business been impacted by
the COVID-19 outbreak
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