Financial Support

Covid 19 - Financial Support Measures

In response to the severe impact of Covid-19 on businesses, H. M. Government (“HMG”) has initiated a range of measures designed to help relieve some of the damage caused to normal business operations. These are designed to assist both small businesses (self-employed and personal service companies) and medium/large companies.

We have listed a number of these measures below (grouped by topic). In each case we have added a link to the relevant HMG webpage or other document so that you can go direct to the current relevant information on the particular topic. We will review the list (and the links) periodically and seek to keep them up to date.


Delay in introduction of new IR35 measures from April 2020 to April 2021: here

Claim back statutory sick pay (if you have staff): here

Claim back wages paid to staff on furlough: here

Universal Credit if you are on low income or have no work: HMG pages here


Self-Employment Income Support Scheme : Simply Docs Info pages here

Small Business Grants Fund and Retail, Hospitality and Leisure Grant Fund: here

Tax, VAT

Deferral of VAT: here

Deferral of self-assessment tax: here

Business rates relief for certain types of business: here


Bounce Back Loan Scheme for small businesses to access finance more quickly: here

Coronavirus Business Interruption Loan Scheme: here

Coronavirus Large Business Interruption Loan Scheme: here

Convertible loans between £125,000 to £5 million to innovative companies: here

Covid Corporate Financing Facility to help large businesses by purchase of their short-term debt: here

Commercial tenants

Since tenants are under pressure from some landlords using aggressive debt recovery tactics, HMG legislated to restrict landlords' rights to recover unpaid rent from commercial tenants and from eviction for unpaid rent. These restrictions have been extended until 31 December 2020. The details are here but may not refer to that extension period.   

Mortgage Holidays for Landlords

Mortgage lenders have agreed with HMG that they will offer repayment holidays of 3 months to landlords with mortgages on their properties (typically buy to let) whose tenants, due to COVID-19, have difficulty paying their rent: here. You will need to check to see if and how any lenders are extending repayment holidays any further.

Emergency Insolvency Measures

New measures to protect companies have been included in the Corporate Insolvency and Governance Act 2020 (passed into law on 25 June 2020) to give them additional breathing space and maximise their chances of survival. They:

a) extend existing moratorium provisions, so that, firstly, the threat of winding-up petitions against a company is removed where they have unpaid debts resulting from the pandemic, and, secondly, statutory demands issued against companies are voided;

b) prohibit suppliers from terminating their supply agreements (but with the ability for a supplier facing undue financial hardship to apply to the court for permission to terminate its supply) so that companies continue to access supplies and materials;

c) require dissenting creditors to accept a restructuring plan;

d) remove the threat to directors of being held personally liable for wrongful trading if a company is unable to avoid insolvency as a result of the coronavirus pandemic.

If you wish to see HMG's webpages about the Act, click here. For an update click on this link.