We’re doing our best to maintain our services during the coronavirus (COVID-19) outbreak.
We have been working with BEIS and other government departments to develop measures that will help ease the burden on businesses.
If your company has been affected and you need more time to file your accounts, you’re able to apply for an additional 3 months to file your accounts. Applications can be made through a fast-tracked online system which will take less than 15 minutes to complete.
We’ve also announced measures to support businesses in meeting their filing requirements, by pausing the strike-off process. This will give businesses affected by the coronavirus outbreak the time they need to update their records and help them avoid being struck off the register.
There’s also a wider range of government support and advice to help businesses through these unprecedented challenges.
Here are 5 key steps your business can take today:
Get help with your finances
For small and medium sized businesses, the Coronavirus Business Interruption Loan Scheme is available for applications. This scheme helps small and medium-sized businesses affected by coronavirus (COVID-19) to access finance of up to £5 million.
For more information and how to apply, visit the guidance on applying for the Coronavirus Business Interruption Loan Scheme. You should speak to your bank or lender to discuss options.
Small and medium sized businesses are able to apply for a coronavirus Bounce Back Loan. The scheme allows small and medium-sized businesses to borrow between £2,000 and £50,000 and access the cash within days.
The coronavirus Future Fund is now open for applications. This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak.
For larger businesses, the Covid-19 Corporate Financing Facility is open for applications. The Bank of England will buy short-term debt from large companies. It will support your company if it’s been affected by a short-term funding squeeze and allow you to finance your short-term liabilities.
Visit the website to find out more about the financial support available for businesses.
See what you're entitled to
The government is making cash grants and additional funding available to certain sectors and smaller businesses. Your business might be eligible for a loan, tax relief or a cash grant.
Use the business support finder to see what support is available to you and your business.
Support your staff
Through the Coronavirus Job Retention Scheme, the government will pay salaries (at 80% of current pay up to £2,500 a month) for workers who are no longer working and would otherwise be made redundant.
For businesses with fewer than 250 employees, The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the current rate of statutory sick pay (SSP) that they pay to current or former employees for periods of sickness starting on or after 13 March 2020.
Check guidance on tax
If you’re concerned about paying your tax you can talk to HMRC about managing payments.
Read more information about the temporary changes to VAT payments, including what VAT payments you can defer and what happens after the VAT deferral ends.
Follow the latest advice
The Prime Minister’s daily press conference, live streamed on the @10DowningStreet Twitter feed, provides the latest updates on health advice, support for businesses and employees, as well as a range of other issues.
Remember, some aspects of business support are devolved. You can find specific information to help with the impact of coronavirus for businesses in Northern Ireland, Scotland and Wales.
Our website will be updated regularly as more information becomes available. It’s never been more important to keep up to date with the latest announcements, so sign up to receive email updates.
