Government Support

 

Support available from UK government

A full range of business support measures have been made available to UK businesses and employees. All information can be found here on the government’s website.

To find out what support is available to you including loans, tax relief and cash grants, use the business support finder.

The government’s Business Support Helpline number is freephone 0800 998 1098. The helpline provides free, impartial business support and signposting services to businesses in England – which currently includes advice on the Coronavirus outbreak.

Speak to us about your experiences, thoughts, worries or ideas:
marketing@lincs-chamber.co.uk
01522 523333

Key Measures

Sustainable Innovation Fund -The government’s £200 million Sustainable Innovation Fund will be open to companies across all parts of the UK who need urgent financial support to keep their cutting-edge projects and ideas alive. Click hereto read more.

Reopening High Streets Safely Fund – This fund is a £50 million fund for councils to support their local high streets get safely back to business. Click here to read more.

Coronavirus Job Retention Scheme  – The scheme will continue until the end of October.

For claims on or after 1 July 2020, employers will need to download and complete a template when claiming for 100 or more employees through the Coronavirus Job Retention Scheme.

Review the updated employer guidance in line with phased changes. This includes information on how to treat furloughed workers who are returning to work part-time and what to do if an employer is struggling to pay contributions.

The following information is available on gov.uk:
– Claim portal
– Updated guidance on the CJRS
– Further guidance on how to calculate a claim
– And a step-by-step guide

Future Fund – UK businesses driving innovation and development will be helped through the coronavirus outbreak with a £1.25 billion government support package.

The Future Fund is now open for applications and can be found here.

Annual leave –Workers who have not taken all of their statutory annual leave entitlement due to COVID-19 will now be able to carry it over into the next 2 leave years. Click here for more information.

Self-employment Income Support Scheme (SEISS) – SEISS will be extended, and will be worth 70% of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,570 in total.

Click here to check if you are eligible for SEISS and to apply.

 

Bounce Back Loans – Small businesses can benefit from a finance scheme providing loans with a 100% guarantee for lenders. The Bounce Back Loans scheme provides loans between £2,000 – £50,000. Click here to read more and here to apply.

Coronavirus Business Interruption Loan Scheme (CBILS) – Smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak. can receive up to £5 million. Click here for more information and how to apply.

Coronavirus Large Business Interruption Loan Scheme (CLBILS) –The maximum loan size available under Coronavirus Large Business Interruption Loan Scheme (CLBILS) is £200 million, with applications now open. Read more here

£25,000 cash grant – for businesses in the retail, hospitality and leisure sectors. Click here for more information.

£10,000 cash grant – for small businesses. Click here for more information.

Domestic Reverse Charge for construction services – HMRC has confirmed that the introduction of the new Domestic Reverse Charge for construction services (DRC) will be further delayed from 1 October 2020 to 1 March 2021.

The DRC was originally due to begin on 1 October 2019 but changed to 1 October 2020. This new delay recognises the impact of Coronavirus on the construction sector. Click here to read more.

Statutory Sick Pay (SSP) – The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay (SSP) paid to current or former employees.

The repayment will cover up to 2 weeks starting from the first qualifying day of sickness. The online service is now open for applications.

Trade Credit Insurance – Businesses with supply chains which rely on Trade Credit Insurance and who are experiencing difficulties due to Coronavirus will get support from the government.

Click here for the latest UK government guidance on these measures

Visit our Coronavirus Advice Hub

Get more advice and business support

Visit the Advice Hub
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