Financial support for Business

Flexible Furlough

This page will be updated as and when there are further announcements from the Government. This page was last updated on 4 June 2020

The dedicated page for business guidance on the gov.uk website will also be updated and can be found at: www.gov.uk/coronavirus/business-support

You can also call Government’s Business Support Helpline to get advice on how you can be assisted, as well as to ask questions regarding any of the information below. The number is: 0300 456 3565

There is an online tool to see what support is available for you and your business. You can find this here: www.gov.uk/business-coronavirus-support-finder
 

Coronavirus Job Retention Scheme

Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.

You can find full guidance on this scheme here

The Coronavirus Job Retention Scheme is changing:

From 1 July, employers can bring back to work employees that have previously been furloughed for any amount of time and any shift pattern, while still being able to claim CJRS grant for their normal hours not worked. When claiming the CJRS grant for furloughed hours employers will need to report and claim for a minimum period of a week.

The scheme will close to new entrants from 30 June. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full 3 week period prior to 30 June.

This means that the final date by which an employer can furlough an employee for the first time will be 10 June, in order for the current 3 week furlough period to be completed by 30 June. Employers will have until 31 July to make any claims in respect of the period to 30 June.

Further guidance on flexible furloughing and how employers should calculate claims will be published on 12 June. Find out more information on how the Coronavirus Job Retention Scheme is changing.

Business rates relief

Business support grant funds

Support for small and medium-sized businesses

  • Apply for the Coronavirus Business Interruption Loan Scheme

    The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million.

    The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.

  • Apply for the coronavirus Future Fund

    The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.
     

  • Apply for a coronavirus Bounce Back Loan

    The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.

    The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

Support for large businesses

Paying sick pay

Paying tax