LOCAL BUSINESSES affected by the impact of coronavirus should not hesitate to seek help at www.gov.uk/coronavirus according to local MP Mel Stride. Potential support available to businesses includes:
- The Coronavirus Job Retention Scheme, which provides businesses with grants to cover 80% of their employees’ wages, up to £2,500 a month per worker.
- The Coronavirus Business Interruption Loan Scheme, via the British Business Bank, which provides interest free loans for 12 months.
- The deferment of VAT payments for the next quarter, so no business will pay any VAT for the next three months.
- Small and medium-sized businesses being able to reclaim Statutory Sick Pay paid to employees for sickness absences.
- Grants for businesses in receipt of small business rate relief or rural rate relief.
- Grants for retail, hospitality and leisure businesses plus a one-year business rates holiday for those with property with a rateable value between £15,000 and £51,000.
Mel said:
“The Treasury is offering unprecedented financial support to help businesses get through the coming months and to help employees keep their jobs. I strongly urge all businesses in Central Devon to check what support they may qualify for.”
As Chair of the Treasury Select Committee Mel quizzed the Chancellor of the Exchequer last week on the Government’s response to the coronavirus outbreak. He has also been in direct contact with him about bringing forward further help for self-employed workers. For Mel's full interview with the Chancellor visit www.parliament.tv.
