Covid-19 Financial Support for Event Businesses including Mobile Discos

A summary of the support available for UK businesses of all types during the Covid-19 pandemic

Coronavirus COVID-19 Income Tax VAT

Image of scrabble tiles spelling out the word SUPPORT

Disclaimer: This information is based on our interpretations of the various announcements made by government. It does not represent professional advice and comes with no guarantees as to its accuracy.


Help for ALL businesses

Small Business Grant Funding (England Only) grants of £10,000 and £25,000

Conditions

Your business must occupy property. You need to meet the business type criteria and you are in receipt of partial or full business rates relief OR rural rates relief because your rateable value is less than £15,000. Grants of £25,000 are available to businesses in the hospitality, retail and leisure sectors with rateable values under £51,000.

What you need to do

Nothing. Your assigned local authority will contact you if you are eligible. If they don't contact you, assume you are not.

How soon will you receive help

The anticipated availability date is 30th April 2020

More information

GOV.UK



Business Support Fund (Scotland Only) - grants of £10,000 and £25,000

Conditions

Your business must occupy property. You need to meet the business type criteria and you are in receipt of partial or full business rates relief OR rural rates relief, nursery relief or disabled relief because your rateable value is less than £18,000

What you need to do

Nothing. Your assigned local authority will contact you if you are eligible. If they don't contact you, assume you are not.

How soon will you receive help

Local authorities are looking to make payments by early April

More information

GOV.SCOT



Business Support Package (Wales Only) - grants of £10,000 and £25,000

Conditions

Your business must occupy property. You need to meet the business type criteria and you are in receipt of small business rates relief because your rateable value is less than £12,000. Grants of £25,000 are available to businesses in the hospitality, retail and leisure sectors with rateable values between £12,000 and £51,000

What you need to do

Nothing. Your assigned local authority will contact you if you are eligible.

How soon will you receive help

To be confirmed

More information

GOV.WALES



COVID Small Business Grant (NI Only) - grants of £10,000 and £25,000

Conditions

Your business must occupy property. You need to meet the business type criteria and your NAV is less than £15,000. Grants of £25,000 are available to businesses in the hospitality, retail and leisure sectors with rateable values up to £51,000

What you need to do

Nothing. Your assigned local authority will contact you if you are eligible.

How soon will you receive help

Support is supposed to be immediate

More information

GOV.UK



Coronavirus Business Interruption Loan Scheme (CBILS) - business loans up to £5m with 0% interest over the first 12 months

Conditions

The standard criteria for business loans set out by the lender or bank (some collateral may be required)

What you need to do

Check that your last 2 years' accounts are in profit and apply for the loan through the standard process at your bank or lender.

How soon will you receive help

Available now from your chosen bank or lender

More information

The British Business Bank



Job Retention Scheme for Employees and some directors

Conditions

Available for wages paid from 1st March 2020 for workers you can no longer keep employed and so have declared them as 'furloughed'. Furloughed staff cannot do any work for you during the furlough period. The government will pay 80% of the wage up to £2,500 per month and this will be taxable income. It is our understanding that self-employed limited company directors CAN be furloughed as employees on their PAYE element, even if they are a sole employee. Technically they cannot work for the firm, but can continue to perform statutory obligations as directors.

What you need to do

Identify any employees that you can no longer pay for the period of the pandemic. HMRC will be releasing details of how to claim imminently.

How soon will you receive help

At the end of April 2020

More information

GOV.UK



Help for VAT Registered businesses

VAT Payment Deferral

Conditions

Your business must be VAT registered. The payment deferral will initially run from 20th March 2020 until 30th June 2020

What you need to do

You are automatically eligible. You do not need to make a VAT payment during this period and you will be given until the end of the 2020-21 tax year to pay any liabilities that have accumulated during the deferral period. VAT return submissions still need to be made as normal, and refunds/reclaims will be processed as normal. If you pay by direct debit, you should cancel the direct debit at your bank if you are unable to pay - do this with sufficient time so that HMRC do not attempt to automatically collect on receipt of your VAT return.

How soon will you receive help

Available now

More information

GOV.UK



Help for Individuals

Residential Mortgage Payment Holiday

Conditions

You can no longer afford to pay your mortgage because of the pandemic

What you need to do

Contact your lender as soon as possible to arrange a 3 months payment holiday. Note that the mortgage length will not be extended; instead the additional interest missed during the holiday period will be added to the loan and this will increase your payments over the remaining course of the mortgage.

How soon will you receive help

Available now

More information

Visit your bank's website

Loan and Credit Card Payment Holiday

Conditions

You can no longer afford to pay your loan or credit card because of the pandemic

What you need to do

Contact your lender as soon as possible to arrange a payment holiday of up to three months. Note that loan lengths may not be extended; instead the additional interest missed during the holiday period will be added to the loan and this will increase your payments over the remaining course of the mortgage.

How soon will you receive help

Available now

More information

Visit your lender's website


Help for Businesses in the Retail, Hospitality and Leisure Industry

Business Rates Holiday

Conditions

Your business is in the retail, hospitality and/or leisure sector. Properties eligible for the relief will be wholly or mainly used as shops, restaurants, cafes, pubs, cinemas, music venues, leisure activities, hotels, guest houses, self-catering accommodation etc.

What you need to do

Nothing. This will be applied to your next bill due in April 2020.

How soon will you receive help

Available now

More information

Visit your local authority's website


Help for the Majority Self-Employed

Covid-19 Self-Employment Income Support Scheme

Conditions

You derive more than 50% of your earnings from self-employment, filed a 2018-2019 tax return before 20th April 2020, have taxable self-employed earnings (after allowable expenses) under £50,000 over the past 3 years, have suffered loss of business as a result of the pandemic and will continue to trade in the 2020-21 tax year. If eligible you will be paid a one-off grant in June 2020 covering 3 months (March/April/May) of 80% of your average monthly self-employed earnings (after allowable expenses) up to £2500 per month. After June 2020 it will be reviewed depending on the status of the pandemic.

It is our understanding that self-employed limited company directors CAN be furloughed as employees on their PAYE element, even if they are a sole employee. Technically they cannot work for the firm, but can continue to perform statutory obligations as directors. See Job Retention Scheme (above)

What you need to do

Visit the HMRC website and supply your email address and contact number.

How soon will you receive help

Early June 2020. Applications open online at mid-day on 13th May 2020.

More information

Try our Eligibility Checker Tool

Newly Self-Employed Hardship Fund (Scotland Only)

Conditions

You are newly self-employed and therefore ineligible for the UK Government Self-Employment Income Support Scheme

Your business is based in Scotland

What you need to do

If eligible you may be entitled to a one-off grant of £2000

How soon will you receive help

Mid May 2020 - applications opened 30th April

More information

gov.scot


Self-Assessment Advance Instalment Deferral

Conditions

If you paid income tax of more than £1,000 in 2018-19, you will ordinarily need to pay an advanced payment against your 2019-20 bill at the end of July. This payment has now been deferred to 1st January 2021.

What you need to do

Nothing. If you wish to take advantage of this deferral simply do not make your advanced payment in July as normal.

How soon will you receive help

Effective now

More information

GOV.UK


Outstanding Tax Deferral

Conditions

If you currently owe outstanding income tax to HMRC

What you need to do

Call the helpline on 0800 015 9559 and explain your predicament

How soon will you receive help

Available now