Are you missing out on COVID-19 business support?

Did you know that government help is still available for a range of businesses? We’ve noticed that many schemes aren’t as well-publicised as they were earlier in the pandemic, but they are still going – meaning you could be entitled to continued financial support, even as restrictions ease. This article will ensure you and your business don’t miss out.

Loans, tax relief and grants up for grabs
Whether you’re a company, employer or sole trader, you may qualify for one of the following initiatives that are still on the go:

• Self-Employment Income Support Scheme – the taxable grant for self-employed people, covering 80% of trading profits.
• Coronavirus Job Retention Scheme (otherwise known as furlough) – which has been extended until the end of September, ensuring employees will continue to receive 80% of their pay for hours not worked due to coronavirus.
• Statutory Sick Pay Rebate Scheme – essentially meaning you can claim back sick pay for employees who are off due to coronavirus.
• VAT deferral new payment scheme – open until 21^st June, this allows businesses to pay deferred VAT in instalments over this tax year, rather than all in one go.
• Business rates relief for hospitality, leisure and non-essential retail businesses – this has been extended until the end of June, after which discounted rates will apply for the rest of the financial year.
• Recovery Loan Scheme – which supports access to finance as businesses recover from COVID-19 disruption.

To find out whether you qualify for these or other schemes, you can chat to your accountant, or use the government’s coronavirus business support finder.

Non-financial assistance and advice for business owners
Even if you aren’t eligible for financial support, you can still access free business advice to steer your recovery.

For starters, there’s the government’s business support helpline and HMRC helpline. There are also dozens of local Growth Hubs across England offering support and guidance for businesses. Or for sector-specific advice – such as in architecture, construction, export and hospitality – your business representative organisation or trade association may be able to help. You can find a full list of sectors and the relevant bodies here.

And don’t forget, if you have an accountant, they are on hand to guide your business through this period – whether you need help with accessing financial support, trimming costs, or planning for growth. Discover how the Jupp Castle team can support your business.

(Flower photo created by jcstudio – www.freepik.com)