Chat with us, powered by LiveChat
Register your Interest

What support is available for my business?

Government has put in place support packages for businesses to help them reopen following the coronavirus pandemic. For information of all the help available, please click here. Following the Spring Budget 2021, further grants and support have been revealed.

Restart Grants

Government has launched a Restart Grant of up to £6,000 per premises for non-essential retail businesses and up to £18,000 per premises for hospitality, accommodation, leisure, personal care and gym businesses.

Applications for this grant are being administered by your Local Authority. Please contact your Local Authority or check their website for more information. To find out which council area your business is in, please visit https://www.gov.uk/find-local-council

Discretionary Grants

Government is also making £425million available for Local Authorities to support other businesses not eligible for the above grants, that might be affected by the restrictions. Businesses should contact their Local Authority or visit their website for more details on how to apply.

Recovery Loan Scheme

Government’s Recovery Loan Scheme will launch on 6 April and be open until 31 December, subject to a review.

Loans and other kinds of finance are available up to £10million per business, for businesses of all sizes, for any legitimate purpose including growth and investment.

  • Term loans and overdrafts will be available between £25,001 and £10 million per business.
  • Invoice finance and asset finance will be available between £1,000 and £10 million per business.

You will be able to apply for a loan if your business is trading in the UK. You will need to show that your business is viable or would be viable were it not for the pandemic; has been impacted by the coronavirus pandemic; is not in collective insolvency proceedings.

Further details, including on how to apply, will be provided in due course and more information can be found by clicking here.

Help to Grow Scheme

From June, small businesses will be able to access a 12-week UK-wide management programme delivered by leading business schools to help upskill SMEs and equip them with the tools to grow their business and thrive. 30,000 places are available over three years.

The Government will also launch a new UK-wide scheme to help 100,000 SMEs save time and money by adopting productivity-enhancing software. This will combine a voucher covering up to 50% of the costs of adopting the software (to a maximum of £5,000) and free online advice to use these.

Sign up or find out more by clicking here.

Business Rate Relief

Eligible retail, hospitality and leisure properties in England will continue to be provided with 100% business rates relief from 1 April 2021 to 30 June 2021. This will be followed by 66% business rates relief from 1 July 2021 to 31 March 2022, capped at £2million per business for properties required to be closed on 5 January 2021 or £105,000 for other properties.

For more information, click here.

Kickstart Scheme

The Department for Work and Pensions has launched a £2billion Kickstart Scheme which will put young people at the heart of the economic recovery by supporting the creation of six month paid work placements for young people aged 16-24 years of age. This is for any business across all sectors including the private, public and voluntary and community sectors.

For full details of the Kickstart Scheme please click here

Businesses that wish to employ 30 or more young people through the scheme can apply directly to the Government, for more information click here.

To support the many small and medium sized companies in the Tees Valley to access this support and create jobs, Mayor Houchen has pledged to act as a representative for any businesses who wish to offer less than 30 Job Placements.

In addition to acting as a representative for Tees Valley businesses the Tees Valley Combined Authority will also provide extended wrap around support for the young person to access skills training and support to ensure a positive progression once the Kickstart Job placement ends.

For further information, guidance and frequently asked questions, click here.

If you are an employer that wishes to engage with the Combined Authority to act as the representative, please click here.

Job Retention (Furlough) Scheme

This scheme has been extended to the end of September as a result of the further national lockdown measures. For more information and to see if you or your employer is eligible to claim, click here.

The Job Support Scheme, due to come into force on November 1 2020, has been paused until the Job Retention Scheme ends.

Job Retention Bonus

This is a one-off £1,000 taxable payment to you as an employer for each eligible employee you furloughed and subsequently kept continuously employed. As a result of the Furlough scheme being extended, this will be redeployed at a more appropriate time.

Statutory Sick Pay Scheme

You may be able to use the Coronavirus Statutory Sick Pay Rebate Scheme to claim back employees’ coronavirus-related Statutory Sick Pay (SSP).

This will repay employers up to two weeks of the Statutory Sick Pay paid to current or former employees if they have been sick from work with coronavirus.

To see if you are eligible and to apply, click here.

Coronavirus Business Interruption Loan Scheme

The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million, with the deadline to apply now extended to March 31, 2021.

The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.

You can apply for a loan if your business is based in the UK and has an annual turnover of up to £45 million.

Further details can be found on the British Business Bank website by clicking here.

A further support scheme, for firms with a turnover of more than £45 million, has also been launched. More details on how to apply can be found by clicking here.

Coronavirus Bounce Back Loan Scheme

This helps small and medium-sized businesses borrow between £2,000 and £50,000, up to a maximum of 25% of their turnover, if they have been impacted by the coronavirus. Government will guarantee 100% of the loan, with no fees or interest for the first 12 months. Loan terms will be up to six years. This has been extended until March 31, 2021.

Businesses cannot apply if they are already claiming under the Coronavirus Business Interruption Loan Scheme.

Businesses can apply now. See more information by clicking here.

Deferral of VAT Payments

Businesses who deferred VAT due from 20 March to 30 June 2020 now have the option to pay in smaller payments over a longer period.

Instead of paying the full amount by the end of March 2021, you can make smaller payments up to the end of March 2022, interest free.

You will need to opt-in to the scheme, and for those who do, this means that your VAT liabilities due between 20 March and 30 June 2020 do not need to be paid in full until the end of March 2022.

Those that can pay their deferred VAT can still do so by 31 March 2021.

If you are still unable to pay the VAT due and need more time, see the guidance about what to do if you cannot pay your tax bill on time you can also contact us by phoning: 0300 200 3835.

I am self-employed, what support is there for me?

The Self-Employed Income Support Scheme has been extended, providing support to the self-employed in the form of two grants, the fourth covering February 2021 to April 2021 and a fifth from May 2021 to September. Online claims for February to April will be available from late April 2021.

The grant extension is for self-employed individuals who were previously eligible for the Self-Employment Income Support Scheme and are actively continuing to trade but are facing reduced demand due to coronavirus or temporarily unable to trade. It also is open to anyone who submitted their self-assessment tax return by March 2, 2021. If you are eligible to claim, HMRC will contact you in mid-April to give you your personal claim date.

For more information on the fourth grant, click here.

Further mental health and charity support:

The Trussell Trust, working to stop UK hunger.

Mind, the mental health charity. / 0300 123 3393

Samaritans / 116 123

Money Advice Service / 0800 138 7777

National Domestic Abuse Helpline / 0808 2000 247

A Way Out, for vulnerable women, young people and their families in the Tees Valley  / 01642 655071

Can we help your business?

Register your interest here