The Coronavirus Startup Survival Guide / Government initiatives

Government Initiatives

Governments across the globe have been announcing emergency packages to help stimulate the economy.

For businesses in the UK, we’ve highlighted some of the key initiatives, including how to access the Coronavirus Business Interruption Loan Scheme, how to access grants and business rates relief, and how to contact HMRC if you are struggling to make payments.

Business rates holiday

All retail, hospitality and leisure businesses based in England are exempt from paying business rates for the tax year 2020-2021. Exemptions will be automatically applied to council tax bills which will be issued in April 2020.
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Small Business Grant

One off grants of £10,000 are available for small businesses which pay little or no business rates because they already receive small business rate relief or rural rate relief. Local authorities will contact eligible businesses.
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Cash grants for retail, hospitality and leisure businesses

The UK government’s Retail and Hospitality Grant Scheme will provide cash grants of up to £25,000 for businesses in retail, hospitality and leisure sectors which are based in England. Local authorities will contact eligible businesses.
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Coronavirus Business Interruption Loan Scheme (CBILS)

The CBILS provides loan facilities of up to £5 million for small businesses across the UK available on repayment terms of up to six years. The cost of interest and fees will be covered by the government for the first 12 months. Businesses are 100% liable for the debt.
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HMRC Tax Helpline

HMRC have set up a dedicated helpline to support businesses and self-employed people who are concerned about not being able to pay their tax due to coronavirus. The helpline number is: 0800 0159 559
Find out more

We’re here to help

If you have any questions or need any advice during this difficult time, feel free to send us an email at admin@angelinvestmentnetwork.co.uk .

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