Loans, Grants and Deferrals

Government launches Business Support Finder tool

With an increasing array of Coronavirus business support measures available to different types and sizes of business, the Government has launched a new Support Finder tool to help businesses identify what support packages they could be eligible for.

The new tool asks for some basic information about a business, including turnover and the number of people it employs, before highlighting packages that could be suitable.

These include measures such as:

  • The Coronavirus Job Retention Scheme (CJRS), which allows employers to furlough eligible staff and claim a grant in respect of up to 80 per cent of their usual wages, capped at £2,500 a month, plus employer National Insurance Contributions (NICS) and minimum automatic enrolment pension contributions.
  • The Coronavirus Business Interruption Loan Scheme (CBILS), which enables businesses with a turnover of up to £45 million to access Government-backed loans of between £1,000 and £5 million.
  • A three-month VAT payment deferral.
  • A range of business rates breaks and grants.

The Business Support Finder can be found at: https://www.gov.uk/business-coronavirus-support-finder.

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