Summary of the Government’s Covid-19 Financial Support

Summary of the Government’s Covid-19 Financial Support

1. Business Rates Grants 

If you receive Small Business Rates Relief you will receive a £10,000 one-off grant. Although the websites say there is no application process and your local authority rates department will contact you shortly, experience has taught us that you should follow the same procedure as below.

If you are in retail, hospitality or leisure from a property with a rateable value of between £15,000 and £51,000, you will receive a £25,000 one-off grant. You should apply to your local authority directly by telephoning the rates department or emailing them, requesting your “entitlement to the Covid Grant be registered.”  

For Example for Bradford Council payers – 

Tel: 01274 437744 


You will need to give them your:-

  • Business name
  • Rates payment reference number (this is on your rates assessment)
  • Bank sort code and account number
  • Contact telephone number

They do not have the authority to make the payments yet, this is expected “shortly” which could be Monday 30th March along with the loan announcement.  The important thing to do is register your entitlement now and speed up the eventual by providing the details above.

All properties in the retail and hospitality sector will receive a 100% discount on their rates bill for 2020/21.

Expanded Retail Discount 2020/21: Coronavirus Response

2. Employee Wages Support

80% grant for furloughed workers

3. Self-employed Profit Support 

80% grant for Self-employment income

4.  Guaranteed Loans

The “Coronavirus Business Interruption Loan Scheme” is being delivered by the British Business Bank via 40 accredited banks.

5. Statutory Sick Pay

For businesses with less than 250 employees, if your staff are ill because of Covid-19, the Government will refund you up to two weeks of SSP. The method of reclaiming the SSP will be set up “over the coming months.”

You need only keep a record of your sickness, you do not need a note from the employee’s GP.

6. Time to Pay Arrangements for all taxes

VAT payments due between 20-03-2020 and 30-06-2020 may be deferred until 31-03-2021, and Income Tax Self-assessment payments due on 31-07-2020 may be deferred until 31-01-2021. 

For all other taxes you may request a time to pay arrangement to suit your business. To do that call HMRC on 0800 0159 5598.