Government schemes | Ulster Bank

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Government schemes and support for businesses

Support for businesses affected by coronavirus (Covid-19)

Security may be required. Product fees may apply. Over 18s only. Subject to status and eligibility criteria. Business use only.

 

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Bounce Back loan for small businesses


Lending from £2k to £50k over 6 years for businesses impacted by coronavirus. No interest payments for 12 months.

See Bounce Back Loan details.

Understanding your Bounce Back Loan

Bounce Back Loan Top-Up


If you've borrowed less than 25% of the annual turnover on your BBL application, you could apply for a Top-Up subject to an overall cap of £50K. Eligibility criteria applies.

Bounce Back Loan Top-Up

Coronavirus Business Interruption Loan Scheme (CBILS)


To support SMEs, CBILS will provide loans of £50,001 to £5 million, with interest covered by the government for the first 12 months.

If your business has been impacted by coronavirus, we may be able to consider your application under CBILS.

Visit our CBILS page for more information.

Understanding your CBIL

Tax and rates

 

For a full range of tax and rates support, please visit gov.co.uk.

Tourism and Hospitality VAT reduction

The government has announced it will extend the temporary 15% VAT cut for the tourism and hospitality sectors to the end of March 2021.

For more information visit gov.uk

Government grant schemes

The government has announced support for businesses affected by coronavirus.

 

New lockdown grants

Additional one-off grants will be available to support businesses impacted by coronavirus through the latest restrictions. Find out more on Gov.uk.

New government grants

Self-Employment Income Support Scheme (SEISS)

The government has announced an extension to the SEISS grant.

If you're self-employed and have been affected by coronavirus, you may be able to apply for two grants up until the end of April 2021. Check your eligibility and how to claim on the government website.

SEISS information on gov.uk

Future Fund
 

This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak.

More about Future Fund

For additional support for businesses in Northern Ireland visit NI Business Info.

Your employees

Furloughing staff

There are two schemes available to businesses, the Coronavirus Job Retention Scheme for staff being furloughed and the Job Retention Bonus for staff who have been previously furloughed. You can find out more about these schemes, and if you qualify for them, on the government website.

Coronavirus Job Retention Scheme details

Job Retention Bonus details

Statutory Sick Pay (SSP) due to coronavirus

If you're an employer, find out if you can use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees' coronavirus-related Statutory Sick Pay.

Find out about SSP

 

Support for larger firms

Covid Corporate Financing Facility (CCFF)

Under this scheme the Bank of England will buy short term debt from larger companies.

The scheme is now available for applications. More information is available from the Bank of England.

Coronavirus Large Business Interruption Loan Scheme (CLBILS)

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) will support businesses with Group annual turnover of over £45 million to access loans of up to £200 million.

Find out more about CLBILS

Protection from eviction for commercial tenants

Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction. The special provision in the Coronavirus Act 2020, which initially protected businesses unable to pay rent due to coronavirus, to the end of September is being extended to 31 March 2021.

This is not a rental holiday. All commercial tenants will still be liable for the rent.

All commercial tenants in Northern Ireland are eligible.

Further information is available at NI Business Info.

Government guidance

Further information on support for UK businesses can be found on the government website.

Because some elements of business support are devolved, the measures you can access may differ from England if your business is in Scotland, Wales or Northern Ireland.

 

Businesses in Northern Ireland
 

View the latest guidance

Businesses in Scotland
 

View the latest guidance

Businesses in Wales
 

View the latest guidance

Coronavirus guidance and support

We’re here to support your business. See our latest guidance and find out how we might be able to help you.

Coronavirus support
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