Finance & Cashflow
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.
Local Authority Schemes:
Hereford Towns Fund
Hereford has been successful in its bid for funding from the Government’s Towns’ Fund. A total of £22.4 million has been secured for the development of up to 15 transformational projects included in the city’s ‘Town’s Investment Plan’ (TIP).
Worcester Towns Fund
Worcester is to receive £19.6m to deliver long-term economic growth for the city and support recovery after COVID. The award follows the submission of a successful bid by Worcester City Council to the Government’s £3.6 billion Towns Fund.
Employment & Benefit Support
Information about Coronavirus and claiming benefits
National Government Schemes:
Financial Support Finder
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.
The Coronavirus Job Retention Scheme
The Coronavirus Job Retention Scheme (or ‘Furlough Scheme’) has been extended until 30 September 2021 with employees receiving 70% 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.
Statutory Sick Pay
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.
Time To Pay
Business Helpline: 0800 024 1222
Self-employed Helpline: 0300 456 3565
Self-Assessment Income Tax Deferral
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.
Business Rates Holiday for Retail, Hospitality and Leisure Businesses
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.
Small Business Bank Loans
Funding for the Arts Sector
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.
Not sure what you are eligible for?
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