Government schemes and support for businesses
Support for businesses affected by coronavirus (Covid-19)
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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.
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.
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.
New Payment Scheme - VAT
Businesses that defer VAT will have the option to pay back in smaller instalments interest free during the 2021/22 financial year.
Government grant schemes
The government has announced support for businesses affected by coronavirus.
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.
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.
For additional support for businesses in Northern Ireland visit NI Business Info.
Your employees
Coronavirus Job Retention Scheme (ending soon)
If you can’t maintain your current workforce due to the impact of coronavirus, you can apply for a grant to cover the majority of their wages.
For the full list of employee support visit gov.co.uk.
Job Support Scheme
The government will introduce the new Job Support Scheme from 1 November. It will run for 6 months to protect viable jobs in businesses that face lower demand in the winter months.
For more information visit gov.uk
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.
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
Businesses in Scotland
Businesses in Wales
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.