COVID-19: SUPPORT FOR BUSINESSES

On 20 March 2020 the Chancellor announced measures to support people and businesses through this period of disruption caused by COVID-19.

The government funding available depends on your circumstances.

This flowchart helps you work out what support is available to you.Click on the blue text in the boxes for links to more detailed information about each type of support.

Coronavirus – flowchart of support available

The package of support measures includes:

  • – a Coronavirus Job Retention Scheme
  • – deferring VAT and Income Tax payments
  • – a Self-employment Income Support Scheme
  • – a Statutory Sick Pay relief package for small and medium sized businesses
  • – a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
  • – small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • – grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
  • – the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • – a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
  • – the HMRC Time To Pay Scheme

COVID-19: SUPPORT GRANT FOR THE SELF-EMPLOYED

Coronavirus – grants for self employed through the coronavirus (COVID-19) Self-employment Income Support Scheme  

The Chancellor announced on 26th March new support for people who are self-employed or a member of a partnership and have lost income due to coronavirus.

The scheme provides grants of up to £7500 to Sole Traders with average income of less than £50,000. Down load the PDF for more information.

Trimantic Umbrella receives Professional Passport Accreditation

Following an in-depth audit and compliance review we are delighted to announce that Trimantic’s Umbrella company facility for contractors / freelancers and temporary workers now holds Professional Passport Approved status.

Professional Passport are the largest independent assessor of provider compliance in the temporary workers market.  By holding the Professional Passport Accreditation our recruitment agency partners have the assurance that we work to the highest standard of compliance and our contractor clients have the peace of mind knowing that, not only are they tax efficient, they are operating completely within HMRC’s strict guidelines.

22-Nov-2018