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Finance support for businesses

Businesses that need advice can call the government’s Business Support Helpline on FREEPHONE 0800 998 1098. The helpline is open Monday to Friday, 9am to 9pm. The GOV.UK website provides specific information for employers and businesses. The London Growth Hub and the Federation of Small Businesses has advice for small businesses.

Local restriction support grant

If your business has been affected by COVID-19 restrictions, you may be eligible for a Local Restrictions Support Grant (LRSG).

Find out here 

Additional Restrictions Grant

The Additional Restriction grant has now closed 

Retail relief

Retail Relief Grant has now closed 

Bounce back loan scheme

The Bounce Back Loan scheme has now closed 

Support for employees

Statutory Sick Pay 

Statutory Sick Pay (SSP) (at £96.35 per week) is available for those who are too sick to work. Those not eligible for SSP can claim Contributory Employment and Support Allowance or Universal Credit (there is a minimum five week wait for the first payment, but advance payment can be claimed).

Jobseeker’s Allowance

New Style Jobseeker’s Allowance (JSA) can be claimed on its own or alongside Universal Credit. JSA is subject to having made sufficient National Insurance contributions.

Business Rates holiday and rent protection

All retail, hospitality and leisure businesses are receiving 100% discount on business rates for the coming year through our Rate Relief Scheme. There is also a business rates holiday for nurseries for the coming year.

The Government has announced extra protection for businesses with a ban on evictions for commercial tenants who miss rent payments. A temporary ban on the aggressive use of statutory demands and winding up orders by landlords where businesses cannot pay their rent due to coronavirus has also been announced. The measures also seek to support ongoing conversations between landlords and tenants about voluntary arrangements.

The London Growth Hub has business advisors who can help small businesses navigate the impacts of the COVID 19 crisis. You can access one to one advice and support by visiting the London growth hub website.

Coronavirus Job Retention Scheme

Job Retention (furlough) Scheme - extended to 30 September 2021

From 1 August 2021, the government will pay 60% of wages up to a maximum cap of £1,875 for the hours the employee is on furlough.

Find out more on GOV.UK

Find out more

VAT and Income Tax deferrals

The VAT deferral new payment scheme has now closed.

 

 

Support for employers

Time to Pay

Businesses that are having difficulties paying their tax bill can contact the Government’s Time to Pay service for support.

Coronavirus Business Interruption Scheme

Coronavirus Business Interruption Loan Scheme is now closed. 

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