08 Apr 2020

Financial support for businesses during coronavirus

Financial support for businesses during coronavirus

A full range of business support measures have been made available to UK businesses.

This page has been set-up to help businesses find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply.

Paying wages

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Business rates and tax

The Scottish Government has announced a £2.2 billion support package for business.

This includes a full year’s 100% non-domestic rates relief for retail, hospitality, leisure and aviation.

It has also made changes to the non-domestic rates (business rates) for 2020-21 along with extra rates relief. 

The Small Business Bonus Scheme provides relief to businesses with properties in Scotland of which the combined rateable value is £18,000 or less.

Where the cumulative rateable value of business properties falls between £18,000 and £35,000, the scheme will also offer 25% relief to individual properties with a rateable value £18,000 or under. 

Businesses can also defer VAT payments due to coronavirus (COVID-19)

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible for help through HMRC. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.

If you're concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 015 9559. Lines are open from Monday to Friday, 8am to 8pm and on Saturday, 8am to 4pm.

Support for the self-employed

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Support for small to medium-sized businesses

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The eligibility criteria has changed to make it easier for businesses to access funds.

Support for large businesses

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Other support

A range of additional support measures are being administered by the Scottish Government, including:

How Aberdein Considine can help

Our Corporate & Business Advisory, Commercial Real Estate, Litigation, Insolvency and Employment Law teams remain fully operational and are helping businesses navigate the current crisis.

Click here if you could like to speak to us.

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