Coronavirus – Package of government support measures for small businesses
Although it has now been several weeks since Rishi Sunak first announced the broad package of support measures available to UK businesses many small business owners are still not aware of, or are unable to access, the support available.
Some of the banks involved in the Business Interruption loans (CBIL’s) and Bounce back loans have reported a second wave of interest in the facilities as the pandemic continues. Some of the rules have changed since the initial announcements were made and in working with our clients, and their banks, we have seen considerable divergence in the interpretation of the rules. There were also some teething problems with the Self-Employed Income Support portal and many taxpayers were told that they did not qualify for relief when in fact they were eligible; the problem seems to have been largely resolved.
If you would like guidance on the package of measures available to your business in the form of grants, deferral of tax payments, “time to pay” facilities from HMRC or loans please do not hesitate to contact us. There are also several other financial strategies available to small businesses to help them through this difficult period.
If you would like to arrange a free 30 minute call please select an appointment time using the following link: