DSM Chartered Accountants – News Release 18th March 2020

On the evening of 17th March 2020, the Government announced increased support for businesses and individuals, urgently required due to the Covid-19 virus outbreak. However the vital forms & systems to apply for this support are still being worked on by Government and they are saying will be available next week or the week after.

DSM are monitoring government, local authority, banking and commerce websites everyday and we will email you this support application information & guidance asap.

1. ‘Coronavirus Business Interruption Loans’ through the main Banks, of upto £5million
2. Local Authority Grants of upto £10,000 with an extra upto £15,000 for leisure & hospitality small businesses.
3. Business Rates full relief and payment holidays from 1st April 2020, for some small and medium businesses
4. HMRC extra time to pay for businesses and individuals, for PAYE, VAT and Income Tax
5. Financial support for employees and self-employed with no income.
6. Payroll guidance & support (we are preparing a separate update today regarding this)

Some important websites for more information :-

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

https://www.fsb.org.uk/campaign/covid19.html?anchor=what-has-the-government-just-announced-to-help-me

https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/

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