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GOVERNMENT SUPPORT TO BUSINESS

The Chancellor Unveils New Support Package


Sunday 22nd March 2020

  • The Chancellor has set out a package of temporary, timely and targeted measures that will help support Gun Trade businesses through this period of disruption caused by COVID-19.

    This includes a package of measures including:

  • a Coronavirus Job Retention Scheme
  • deferring VAT and Income Tax payments
  • a Statutory Sick Pay relief package for SMEs
  • a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
  • small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
  • the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
    the HMRC Time To Pay Scheme

The details for the package are here


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