Updated Information on how small businesses and the self-employed can weather Covid 19 – March 19th, 2020

I want to try and keep the information as clear and as simple as I possibly can for everyone, so I won’t be writing out everything again, I will just be writing out the highlights.

1) Coronavirus Business Interruption Loan:

It has been announced that the further details about this scheme, including the lenders that will be providing it, will be available from the week commencing March 23, 2020.

2) Larger Firms that can’t access the measures already in place:

The Bank of England is going to provide a new lending facility to provide assistance to larger firms and help them to raise working capital through the purchase of short-term debt. It will support companies that are fundamentally strong but have been affected by the squeeze on short-term funding. It will also support the corporate finance markets and ease the supply of credit to all firms. Information on how to access this funding will be released in the following days and it will be available from the week beginning March 23, 2020.

3) IR35

The government is going to delay the introduction of the new rules applying to IR35 until April 6, 2021 due to Covid-2019.

The information and policies are continually being updated by the government, so I urge you to keep on top of the information by visiting the relevant website for your area.

Scotland: https://www.gov.scot/coronavirus-covid-19/
Wales: https://gov.wales/business-and-employers-coronavirus
Northern Ireland: https://www.nibusinessinfo.co.uk/

I will be trying to keep myself as informed as possible and will share relevant information on my fb business page: https://www.facebook.com/ihelmenterprises/