20/10/2020

Business Support – COVID-19 Financial Aid Pack

As the country moves into a three-tier system of restrictions, there is a great deal of information for businesses and sole traders to digest, particularly in the North of England.

To ensure that you have access to financial support that could make a difference, we have gathered the latest government guidance on the grants, loans and schemes currently available into a single pack, available here.  

Some of the loans, tax reliefs and grants you may be entitled to, include: 

  • Deferring VAT – gives VAT registered businesses the chance to delay paying VAT until 31st March 2021.  
  • Statutory Sick Pay rebate – employers can reclaim Statutory Sick Pay paid for COVID-19 related sickness absences.  
  • Business rates holiday – businesses in the retail, hospitality and leisure sectors won’t have to pay business rates for the 20/21 tax year.  
  • Coronavirus interruption loan scheme – SMEs may be eligible to apply for a temporary loan, overdraft, invoice finance and asset finance of up to £5 million, for up to 6 years. 
  • Self-Employed Income Support Scheme – those who are self-employed or a member of a partnership may be able to apply for this grant.  

To view all the business support options available to you, explained in more detail, please download our Coronavirus Financial Aid Pack here.  

As always, Lansdowne Woodward is here to support you not only with your business insurance cover but in any way we can. If you would like to speak to a member of our friendly team, please give us a call on 01202 874 989.