Select Page

Finance & Cashflow

In these unprecedented times, cash flow and finances are often the main concern to most businesses.

In response to the unprecedented times we find ourselves in, the government has released a full range of business support measures for UK businesses, those who are self-employed and employees.

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

If you need any help or guidance with Coronavirus financial support, please talk to us and we will assist you wherever we can

Use our new Finance Finder

Our new Chamber Finance Finder will help you get matched to relevant funding opportunities across loans, equity and grants.

 

Click Here

National Government Schemes:

Employment & Benefit Support

Information about Coronavirus and claiming benefits

coronavirus financial support phone

Financial Support Finder

More information

The government ‘Finance Finder’ tool will ask you to fill out a simple online questionnaire, which can take minutes to complete. You will then be directed to a list of all the financial support you may be eligible for.

Find Out More

man looking at screen

The Coronavirus Job Retention Scheme

More information

The Coronavirus Job Retention Scheme (or ‘Furlough Scheme’) has been extended until 30 April 2021 with employees receiving 80% of their current salary for hours not worked and further economic support announced.

People and businesses across the UK are being provided with additional financial support as part of the government’s plan for the next phase of its response to the coronavirus outbreak.

Find Out More

man looking at screen

COVID-19 Corporate Financing Facility

More information

Under the new Covid-19 Corporate Financing Facility, the Bank of England will buy short-term debt from larger companies. This will support your company if it has been affected by a short-term funding squeeze, and allow you to finance your short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms.

Find Out More

women working at desk with folders in front

Statutory Sick Pay

More information

For businesses with fewer than 250 employees, the cost of providing 14 days of Statutory Sick Pay per employee will be refunded by the government in full. This will provide 2 million businesses with up to £2 billion to cover the cost of large-scale sick leave.

Find Out More

coronavirus financial support

VAT Payments Deferred

More information

For those who opted-in to the scheme, your VAT liabilities due between 20 March and 30 June 2020 do not need to be paid in full until the end of March 2022.

Those that can pay their deferred VAT can still do so by 31 March 2021.

Find Out More

mug of tea on a desk

Coronavirus Business Interruption Loan Scheme (CBILS)

More information

The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak. British Business Bank operates CBILS via its accredited lenders including high-street banks, challenger banks, asset-based lenders and smaller specialist local lenders. The government recently announced that the CBILS will be extended until 31 March 2021.

Find Out More

women with large computer screen smiling at camera

Business Bounce Back Loans (BBLS)

More information

The Bounce Back Loan Scheme (BBLS) provides financial support to businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak and that can benefit from £50,000 or less in finance. From 10 November, it was announced participating lenders in the scheme are able to offer smaller businesses across the UK a ‘top-up’ to their existing Bounce Back Loan if they originally borrowed less than the maximum amount available to them.

The government has announced that the Bounce Back Loan Scheme (BBLS) will be extended until 31 March 2021.

Find Out More

in focus light

Coronavirus Large Business Interruption Loan Scheme (CLBILS)

More information

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides finance to mid-sized and larger UK businesses with a group turnover of more than £45m (the upper limit for the existing smaller-business focused CBILS) that are suffering disruption to their cashflow due to lost or deferred revenues during the COVID-19 outbreak. CLBILS is available through a range of British Business Bank accredited lenders and partners, listed on the British Business Bank website.

The government has announced that the Coronavirus Large Business Interruption Loan Scheme (CLBILS) will be extended until 31 March 2021.

Find Out More

hands using computer mouse

Time To Pay

More information
A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. Businesses may be able to agree a bespoke Time to Pay arrangement.

Business Helpline: 0800 024 1222

Self-employed Helpline: 0300 456 3565

Find Out More

Coronavirus financial support paypal folders

Self-Assessment Income Tax Deferral

More information

If you’re self-employed, Income Tax payments due on 31st January 2021 under the Self-Assessment system will be deferred. Instead of paying the full amount by the end of March 2021, you can make up to 11 smaller monthly instalments, interest free. All instalments must be paid by the end of March 2022.

Find Out More

man filling up a pint

Business Rates Holiday for Retail, Hospitality and Leisure Businesses

More information

A 100% business rates holiday for the next 12 months for all retail, hospitality and leisure business, no matter what their rate-able value is, will be available.

Find Out More

Further Coronavirus Financial Support:

Here 2 Help Grant

Information about the Here 2 Help grant

two people looking at leaflets about coronavirus financial support

Small Business Bank Loans

More information

A number of private lenders are also making funds available to small businesses impacted by coronavirus, including £2billion from Lloyds Banking Group and £5billion from NatWest and HSBC.

wall light decorations

Funding for the Arts Sector

More information

Arts Council England has announced a cash injection to help artists, venues and freelancers in the cultural sector. The package includes £20m for individuals (made up of grants of £2,500 each), £90m for National Portfolio Organisations – venues and others that get annual funding – and £50m for organisations outside that scheme.

Find Out More

two women discussing coronavirus financial support

Fastershire Grant for Community Groups

More information

Herefordshire Council’s Fastershire Broadband Project has launched a Keep Connected grant to help support groups and organisations to adapt and continue to deliver their services remotely.

The grant, of up to £500, is available to any not-for-profit groups or organisations, including charities, community groups and Parish/town councils.

Find Out More

Not sure what you are eligible for?

This handy tool will tell you in minutes
i

Further Advice

t

Insurance advice for businesses

t

IR35 Delay Advice

t

Suspension of Levy bills for the construction sector

t

Small Business Service

t

Business rates revaluation postponed

t

Companies House guidance

t

Changes to Insolvency Laws

t

Advice for businesses trading internationally

t

Protection from eviction for business tenants

t

Employment & Benefit Support

Coronavirus News

Rapid COVID-19 testing for essential workers in Herefordshire

Rapid COVID-19 testing for essential workers in Herefordshire

Essential workers across Herefordshire, who cannot work from home, are being urged to join an initiative to help drive down the number of COVID-19 cases by doing twice-weekly rapid tests (known as Lateral Flow Tests). Four council test centres for people without...

New online Scheme announced to spread costs of deferred VAT

New online Scheme announced to spread costs of deferred VAT

Over half a million businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments, HMRC announced (23 February 2021). In order to take advantage of the new payment scheme businesses...

Kickstart placements key to boosting recovery plans for firms

Kickstart placements key to boosting recovery plans for firms

With businesses now looking towards some potential dates for reopening, recruitment plans are starting to tentatively get back on track. But with reduced profits and cash flow within businesses, new appointments are being approached with caution.

Newsletter Sign up

If you’d like to be informed of how we are helping businesses, or hear of our events you can get involved with, sign up to our newsletters here:

If you’d like to speak to someone about any of the government schemes or support available to you, please contact:

01905 673600 and speak to the Membership team

Your Feedback
Your Feedback
Questions? We're here to help you!
Connecting...
Thanks for using our brand new website. We would love to hear your thoughts and suggestions.
Our operators are busy. Please try again later
:
:
:
Have you got a question? Write to us!
:
:
This chat session has ended
Was this conversation useful? Vote this chat session.
Good Bad