Covid-19 Support Services For Businesses and Individuals

This Scheme has now closed

1. Interest rate: Fixed 2.5% per annum.
2. No interest for the first 12 months (government to pay interest for 12 months).
3. Government to provide a guarantee of 100% on each loan without any charge.
4. How much can you borrow: 25% of annual revenue (2019 calendar year) or Maximum amount: £50,000
5. For business established after 1^st Jan 2019, turnover to be calculated on an estimate basis.
6. Term: The length of the loan is 6 years (can be extended to 10 years). But you can repay early without paying a fee.
7. No repayments will be due during the first 12 months.

To know more about "Bounce back loan scheme", click here.

Note - Borrower is liable to repay 100% of the loan

This Scheme has now closed

1. Up to £5 million facility - loan of amount up to £5 million.
2. 12 months finance interest-free - Government to cover the interest for the first 12 months.
3. 80% Guarantee - Government to provide lenders with a guarantee of 80% on each loan.
4. No guarantee fee - No fee for smaller businesses.

Finance terms -

The Borrower always remains liable to pay 100% of the principal and interest after 12 months.

To know more about "Coronavirus business interruption loan scheme", click here.

This Scheme has now closed

To know more about "Coronavirus future fund scheme", click here.

1. Payment of 80% of staff salaries up to £2,500 (gross pay) per month per worker for those who are on PAYE and unable to work.
2. Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that subsidised wage.
3. This extended scheme is available to all employees who were on the Employer's PAYE payroll by 23:59 on 30 October 2020.
4. This Scheme is also available to employees employed as of 23 September who has since been made redundant can be rehired and placed on the Scheme.
5. The deadline for Coronavirus Job Retention Scheme claims for periods in June 2021 is Wednesday 14 July 2021.
6. The scheme runs until September 2021.
   1. The UK Government will continue to pay 80% of furloughed employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, to the end of June 2021.
   2. In July 2021, CJRS grants will cover 70% of employees’ usual wages for the hours not worked, up to a cap of £2,187.50. In August 2021 and September 2021, this will then reduce to 60% of employees’ usual wages up to a cap of £1,875.

The Coronavirus Job Retention Scheme (CJRS) remain open until December 2021.

This Scheme has now closed

1. It helps in saving your money on high utility bills.
2. It makes your tenants happier than before.
3. It helps make your home more energy-efficient.
4. It will attract more eco-friendly tenants which is the biggest benefit you can avail as a landlord because 42% of tenants consider eco-friendliness while choosing a new property.

Issuing of Vouchers started from November 2020 and were valid from 3 months from the date of issue or until 31 March 2021.

The Green Homes Grant scheme closed for new applications on 31 March 2021.

To know more about "Green homes grant scheme", click here.

1. It is available to both small and medium-sized businesses.
2. Employees must work for at least 20% of their normal hours.
3. If you didn’t use the furlough scheme before, you could be still eligible to apply for the Job support scheme.
4. Employers will continue to pay the staff wages as per their working hours. However, for non-working hours the government will provide up to 61.67% of wages, up to £1,541.75 per month.
5. An employee working 20% of their normal hours will receive at least 73% of their pay.

This scheme will start from 1 November 2020 and run for 6 months, i.e. until April 2021.

1. The first grant, billed as covering March to May 2020, was available to businesses adversely affected up to 13 July 2020.
2. The second grant, billed as covering June to August 2020, was available to businesses affected on or after 14 July 2020.
3. The third grant, billed as covering November 2020 to January 2021, was available to businesses impacted between 1 November 2020 and 29 January 2021.
4. The fourth grant, billed as covering February to April 2021, was available to businesses impacted between 1 February and 30 April 2021.
5. The fifth grant, billed as covering May to September 2021, is expected to be available to businesses impacted between 1 May and 30 September 2021.

Note: Claims for the fourth SEISS grant have now closed. The last date for making a claim for the fourth grant was 1 June 2021.

The fifth grant is based on three months trading profits despite covering a five-month period. HMRC has indicated that this approach is intended to tailor support as the economy opens up. The online claims service for the fifth grant will be available from late July 2021.

1. If you cannot work because of coronavirus (COVID-19). You could get SSP if you’re self-isolating because:
   1. you or someone you live with has COVID-19 symptoms or has tested positive for COVID-19.
   2. you have been notified by the NHS or public health authorities that you’ve been in contact with someone with COVID-19.
   3. someone in your support bubble (or your ‘extended household’ if you live in Scotland or Wales) has COVID-19 symptoms or has tested positive for COVID-19.
   4. You have been advised by a doctor or healthcare professional to self-isolate before going into hospital for surgery.
   Note:
   1. You could get SSP for every day you are off work.
   2. You cannot get SSP if you are self-isolating after entering or returning to the UK and do not need to self-isolate for any other reason.
2. If your illness is not related to COVID-19, you can get SSP from the fourth day you are off work sick.

Following the success of the emergency COVID-19 Government-guaranteed loan schemes, the Government has introduced the Recovery Loan Scheme for all business so they can recover after the pandemic and transition period.

1. The scheme is open to all businesses , including those who have already received support under the emergency schemes.
2. Up to £10 million is available per business. The actual amount offered and the terms are at the discretion of participating lenders.
3. The government guarantees 80% of the finance to the lender. As the borrower, you are always 100% liable for the debt.
4. Loans are available through a network of accredited lenders, listed on the British Business Bank’s website.

The scheme is open until 31 December 2021, subject to review.