The UK government financial support pages enable businesses to claim support for:
Paying employees: the Coronavirus Job Retention scheme covers 80% of employee’s wages if they have to be put on furlough because of Covid-19.
Paying statutory sick pay: the Coronavirus Statutory Sick Pay Rebate Scheme will pay for employees who have coronavirus symptoms, are self-isolating or shielding. The scheme is not yet open for claims.
VAT payments: these may be deferred until 31 March 2021.
Self-assessment tax bills: may be delayed until 31 January 2021.
Businesses may be eligible for grants of £10,000 through:
the Small Business Grants Fund in England
the Small Business Support Grant Scheme in Northern Ireland
the Small Business Support Grant in Scotland
the Economic Resilience Fund in Wales has currently been paused due to the scale of demand.
The Self-Employment Income Support Scheme provides a taxable grant of 80% of average monthly trading profits over three months, capped at £7,500.
Bounce back loans: SMEs can quickly borrow from £2,000, to 25% of turnover (up to £50,000).
Coronavirus Business Interruption Loan Scheme: SMEs can get loans to ease cashflow disruption through accredited lenders.
Confor member, legal firm Brodies, has created free-to-access resources to help you navigate through the challenges you may face as an employer during the global pandemic.
To discuss any employment matters further or sign up for a free trial of the full Workbox website with comprehensive HR guidance please email email@example.com or call the Workbox helpline on 0800 230 0717. Confor members can benefit from 30 minutes of free advice through the legal helpline.
The following sources of country business information and e-alerts will help in keeping up to date with news of funding opportunities:
Northern Ireland: Coronavirus business support – helps business access the support that’s been made available
Scotland: Find Business Support- business advice and more from Scotland’s enterprise and skills agencies
Wales: Welsh Government e-alert– financial support and grants in Wales
UK: MoneySavingExpert– Martin Lewis’s money saving site with section on Coronavirus
Confor member updates
A full round up of Covid-19 information - plus other sector news - is shared with members (now fortnightly), including significant market intelligence. There is also an opportunity to feed back on what more Confor could do to support members at this difficult time and the chance to engage with us via webinars (see Events page).