What support is your business eligible for?
Coronavirus (COVID-19) support is available to employers and the self-employed. You may be eligible for loans, tax relief and cash grants.
Use the Government's business support finder to see what support is available for you and your business.
Start now: Business support search tool
Support for businesses re-opening
Newark and Sherwood District Council is working with retailers and market traders to assist wherever possible with the phased re-opening of shops and stalls in town centres. For help and support with your re-opening, visit our dedicated page.
Financial support for businesses
We continue to support the business community and its employees in these unprecedented and challenging times.
We are committed to being as flexible as possible in administering relief for qualifying businesses and people affected. The support packages available are:
- A statutory sick pay relief package for SMEs
- An ability for businesses to claim against insurance policies that covers a pandemic following confirmation from the Chancellor of the Exchequer that the Government advice is “clear enough to claim”
- Temporary suspension of planning regulations to allow all pubs and restaurants to operate temporarily as takeaways.
Coronavirus Business Interruption Loan Scheme
Businesses may be eligible for a Coronavirus Business Interruption Loan of up to a maximum of £1.2 million. This scheme is delivered through commercial lenders, backed by the Government-owned British Business Bank. There are 40 accredited lenders able to offer the scheme, including all the major banks. The decision on whether to offer finance is taken by each individual lender, not by the Government. Businesses remain responsible for repaying any loans they take out.
There is also information on additional support at the Local Enterprise Partnership Growth Hub here.
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 that would otherwise have been laid off during this crisis.
To access the scheme you will need to:
- Designate affected employees as ‘furloughed workers,’ and notify your employees of this change - changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiation.
- Submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required).
HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers.
The scheme applies to all UK businesses.
Information for employers making redundancies or with recruitment opportunities
The Chartered Institute of Personnel and Development (CIPD) has published useful advice, resources and guidance to support employers and people professionals in their response to Coronavirus (Covid-19) including the Coronavirus Job Retention Scheme and on furloughing staff. https://www.cipd.co.uk/news-views/coronavirus/faqs
General Winter Economy Plan
Additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK was announced in September 2020. This includes a 15% VAT cut for the hospitality and tourism sectors, and help for businesses in repaying government-backed loans. Read more here.
More financial support for businesses can be found on the D2N2 website.
Job Support Scheme
A new Job Support Scheme will be introduced from 1 November to protect jobs in businesses who are facing lower demand over the winter months due to coronavirus.
Under the scheme, which will run for six months and help keep employees attached to the workforce, the government will contribute towards the wages of employees who are working fewer than normal hours due to decreased demand.
The Job Support Scheme will be open to businesses across the UK even if they have not previously used the furlough scheme, with further guidance being published in due course.
It is designed to sit alongside the Jobs Retention Bonus and could be worth over 60% of average wages of workers who have been furloughed – and are kept on until the start of February 2021. Businesses can benefit from both schemes in order to help protect jobs.
Self-employment Income Support Scheme
The Government is extending the Self Employment Income Support Scheme Grant (SEISS). An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to coronavirus. The initial lump sum will cover three months’ worth of profits for the period from November to the end of January next year. This is worth 20% of average monthly profits, up to a total of £1,875.
An additional second grant, which may be adjusted to respond to changing circumstances, will be available for self-employed individuals to cover the period from February 2021 to the end of April - ensuring support continues right through to next year. This is in addition to the more than £13 billion of support already provided for over 2.6 million self-employed individuals through the first two stages of the Self Employment Income Support Scheme.
Business support links
Support for businesses who are paying sick pay to employees
Support for businesses who pay business rates
Support for businesses who pay little or no business rates
Support for businesses paying tax
The East Midlands Chamber have created a Coronavirus hub on their website which is updated daily with the latest developments and new financial measures.
British Independent Retailers Association has a webpage containing advice for employers on health and safety advice and employment law.
The Federation of Small Business has a webpage which consists of various forms of advice to small business about coronavirus.
The Chartered Institute for Personnel and Development has information which sets out how employers should respond to the threat from coronavirus. https://www.cipd.co.uk/news-views/coronavirus