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26 May 2020

Registration for UK letting agencies is now open with Her Majesty’s Revenue & Customs (HMRC) who are the supervisory body for the property sector. Read More...

Furlough Scheme must flex to support recovery

26 May 2020

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SSP reimbursement now available

26 May 2020

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Scottish Government releases phased route map

22 May 2020

A five-phase route map was released on 21 May, with a brief mention in Phase One about the safe reopening of the housing market. Read More...

Coronavirus business financial support tool launched

Wednesday 22 April 2020

The Government has released a new ‘support finder’ tool which aims to help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the Coronavirus pandemic.

The tool asks business owners to complete an online questionnaire which will then direct them to a list of all the financial support they may be eligible for.

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Businesses of all shapes and sizes play a vital role in our economy, which is why we want to make it as easy as possible for all of them to access our wide-ranging package of financial support during this challenging time.

This online questionnaire takes just minutes to complete and will quickly signpost a business to the loans, grants or other schemes they could be eligible for.

ALOK SHARMA, BUSINESS SECRETARY

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We’ve launched an unprecedented package of support to protect jobs, businesses and incomes during these challenging times.

Millions are already benefitting and this new online tool will allow firms and individuals to identify what help they are entitled to in a matter of minutes.

We are doing everything we can to make our support as accessible and as easy to navigate as possible.

RUSHI SUNAK, CHANCELLOR OF THE EXCHEQUER

The support tool

To support business, workers and the self-employed during the Coronavirus outbreak, the Government has:

  • made up to £330 billion of loans and guarantees for businesses
  • offered to pay 80 per cent of the wages of furloughed workers, up to £2,500 which is open until the end of June
  • deferred the next quarter of VAT payments for firms, until the end of June -
  • introduced £20 billion in tax relief and cash grants to help businesses with cash flow
  • introduced the Coronavirus Business Interruption Loan Schemes for both SMEs and larger businesses to make it easier to access vital financial support
  • covering the cost of statutory sick pay
  • entirely removed all eligible properties in the retail, hospitality and leisure sector from business rates temporarily
  • introduced the Self-employment Income Support Scheme, offering a taxable grant worth 80 per cent of trading profits up to a maximum of £2,500 a month
  • deferred Self-Assessment payments due in July 2020 until 31 January 2021
  • allowed companies required to hold AGMs to do so flexibly, which may include postponing them or holding them online
  • suspended wrongful trading provisions for company directors to remove the threat of personal liability during the pandemic
  • offered a three-month extension for filing accounts to businesses hit by Coronavirus.