08 Apr 2020
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
Click on the links below to:
- Claim for your employees' wages through the Coronavirus Job Retention Scheme
- Claim back Statutory Sick Pay paid to employees due to coronavirus (COVID-19)
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
Click on the link below to:
Support for small to medium-sized businesses
Click on the link below to:
The eligibility criteria has changed to make it easier for businesses to access funds.
Support for large businesses
Click on the links below to:
- Apply for the Coronavirus Large Business Interruption Loan Scheme
- Apply for the COVID-19 Corporate Financing Facility
Other support
A range of additional support measures are being administered by the Scottish Government, including:
- People most at risk from the impacts of the coronavirus outbreak are to receive £8 million support from the Scottish Government
- Support for co-operatives - Co-operatives UK are providing practical guides and advice for co-operatives in relation to the impact of COVID-19
- Creative sector support has been announced by Creative Scotland
- Grants of up to £50,000 are available for innovative ways to deal with the impact on the coronavirus on business, economy and society
- A job matching service is available for those looking for work in the Edinburgh and South East Scotland region
- A free service for employers currently looking to fill jobs due to the coronavirus pandemic has been launched
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.