Financial support and grants

The government has set out a package of temporary, timely and targeted measures to support businesses through this period of disruption caused by the coronavirus.

If your business is affected by the current pandemic, use the online tool on GOV.uk to find out what financial support is available for you.

Find financial support available


In this section:


Support for local businesses

Businesses - financial support and grantsWe are looking at doing everything we can to support all local businesses in Hillingdon.

We are aware all business owners need as much help as possible right now to support them through these unprecedented times. We have highlighted some key organisations that can help you with further advice and support below:

  • West London Business: A new microsite and phone line dedicated to providing answers to west London businesses' coronavirus queries has been launched by West London Business, the non-profit business leadership forum for west London. The microsite includes a knowledge base that is updated daily, as well as access to events and answers to frequently asked questions. The helpline is available Monday to Friday from 9am to 5pm on 020 8607 2500 
  • Brunel events: Brunel University is hosting several online workshops and sessions on supporting your business during the current pandemic. Find out more and register

The government has also published guidance on keeping the workplace safe during the current pandemic. 

Read the guidance


Statutory Sick Pay (SSP)

If you are a small or medium sized business, you may be entitled to reclaim the costs of Statutory Sick Pay (SSP) for sickness absence due to the coronavirus: 

  • This refund will cover up to 2 weeks' SSP per eligible employee who are either ill or have been told to self-isolate because of the coronavirus. This is in line with the recommended isolation period. 
  • Employers with fewer than 250 employees will be eligible. The size of an employer will be determined by the number of people they employed as of Friday 28 February 2020. 
  • Employers will be able to reclaim expenditure for any employee who has claimed SSP (according to the new eligibility criteria) as a result of the coronavirus. 
  • Employers should maintain records of staff absences, but employees will not need to provide a GP fit note. 
  • The eligible period for the scheme began on Friday 13 March. 
  • The government will work with employers over the coming months to set up the repayment mechanism for employers as soon as possible. Existing systems are not designed to facilitate employer refunds for SSP. 

WHO TO CONTACT: Central Government have developed a rebate scheme.  Read more on the government website.


NNDR (Business Rates) - Relief

Some businesses in the retail, leisure and hospitality sectors, including nurseries are eligible for a Business Rates holiday for 1 year from Wednesday 1 April 2020: 

If your business occupies a property in the retail, leisure or hospitality sector (as defined in the government guidance *link) you will be eligible for the 100% discount on your business rates bill. 

If you qualify for the Expanded Retail Discount introduced by the government, this has now been applied to your account for 2020/21.

In total, more than £90 million of Expanded Retail Discount has been awarded to business rates accounts in Hillingdon for 2020/21.

Nurseries

If you are business operating as a nursery, you will be entitled to the 100% relief for 2020/21. That means non-local authority providers of childcare will pay no business rates in 2020/21 from Wednesday 1 April if:

·         the property used is occupied by providers on Ofsted's Early Years Register, and

·         is wholly or mainly used for the provision of the Early Years Foundation Stage. 

Further guidance is available on the government website.

More than £600,000 of Nursery Relief has been applied to nursery business rates accounts for 2020/21.


Business Support Grants

The Government announced that the Small Business Grant Fund, Retail Hospitality and Leisure Grant Schemes and the Discretionary Grant Fund should close with effect from 28 August 2020 and that all payments under these schemes should be finalised by 30 September 2020.

The council has now made the final payments under all the schemes.

Read more on the government website


Support for businesses through Local Authority Discretionary Grants Fund

Applications for the second tranche of the council's discretionary grant scheme closed on 9 August 2020. The council is currently advising businesses of the outcome of their application and /or making payments.

The government has announced that the 28 August 2020 is the closing date for all local authority discretionary schemes. Therefore, there will be no further application windows and the final date for payment for the Discretionary Grants scheme is 30 September 2020. The council intends to ensure all payments for existing applications are made by this date, if not earlier.


Further help for small businesses

  • Small businesses are able to apply for quick and easy-to-access loans
  • Businesses will be able to borrow between £2,000 and £50,000 with the cash arriving within days
  • Loans will be 100% government backed for lenders, and businesses can apply online through a short and simple form

Thousands of small firms and sole traders, including high street staples like hairdressers, coffee shops and florists, will be eligible for 100% government-backed Bounce Back Loans to help them make it through the coronavirus outbreak.

Small business owners can apply to accredited lenders by filling out the form below.

The government has also agreed with lenders that an affordable flat rate of 2.5% interest will be charged on these loans. Any business that has already taken out a coronavirus Business Interruption Loan of £50,000 or less can apply to have these switched over to this generous new scheme.

To read further information about the Bounce Back Loan and apply,  please visit the Bounce Back application page.


Business cash flow issues 

If your small or medium sized business (Small or Medium sized Enterprise - SME) in England is facing cash flow issues as a result of the coronavirus, please read the following information: 

  • A temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, is available to support businesses to access bank lending and overdrafts.  
  • The government will provide lenders with a partial guarantee of 80% on each loan to give lenders further confidence in continuing to provide finance to SMEs.  
  • The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value. The first 12 months of these loans will be interest-free, as the government will cover these payments.  
  • Businesses will be able to get finance under the scheme from many providers, including the main high street banks. 
  • Businesses will remain responsible for repaying any facility they take out.  

Who to contact: For further information, please visit the British Business Bank website 


Large business cash flow issues

If you are a large business facing cash flow issues as a result of the coronavirus, you may want to read the following information: 

  • Companies commonly sell short term debt ('commercial paper') to the market. This is a quick and cost effective way to raise working capital.  
  • The new COVID-19 Corporate Financing Facility means that the Bank of England will buy short-term debt from companies. 
  • This will support companies which are fundamentally strong but have been affected by a short-term funding squeeze, enabling them to continue financing their short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms. 

Who to contact: Further details can be found in the exchange of letters between the Governor of the Bank of England and the Chancellor, using the government website.  


Support for businesses through the Coronavirus Job Retention Scheme

Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees' salaries for those employees that would otherwise have been laid off during this crisis.

Eligibility: All UK businesses are eligible and must be processed by businesses, not individuals. 

  • If the business needs short-term cash flow support, it may be eligible for a Coronavirus Business Interruption Loan.

Find out how to claim


Assistance for the self-employed 

If you are self-employed or own a business and you are concerned about not being able to pay your tax bills because of the coronavirus, you may be eligible for support through Her Majesty's Revenue and Customs' (HMRC) Time to Pay service: 

  • These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.  

Who to contact: If you think you or your business is eligible for support through Time to Pay, you can call the following helpline number to get practical help and advice: 0800 0159 559.  For more information, please check the HMRC site.

Self-employed individuals or members of partnerships  whose business has been adversely affected by coronavirus are now able to apply for a Self-Employment Income Support Scheme (SEISS) grant worth 80% of their  average monthly trading profits.

Read the guidance


Pubs and restaurants

If you own a pub that serves food or a restaurant in England, you will be able to operate a hot food takeaway to serve people staying at home, without going through the usual planning process: 

  • The Ministry for Housing, Communities and Local Government (MHCLG) has brought forward a temporary (12 months) Permitted Development Right to allow for change of use from A3 (Restaurant) and A4 (Pub) to A5 (Hot Food Takeaway). 
  • Pubs and restaurants are able to notify their local authority that they are operating as a takeaway without any prior approval.
  • More information on reopening and adapting your food business during COVID-19 is available on the Food Standards Agency website

WHO TO CONTACT: Please email Planning@hillingdon.gov.uk to enquire about a change of use for your business.


Contracting your services to large or medium sized organisations outside of the public sector

The government announced on Tuesday 17 March that the reform to the off-payroll working rules (commonly known as IR35) - that would have applied for people contracting their services to large or medium sized organisations outside the public sector - will be delayed for 1 year from Monday 6 April 2020, until Tuesday 6 April 2021. 

Who to contact: Business and individuals do not need to take any action. 


Support for businesses through deferring VAT and Income Tax payments

Central Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. If you are self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021.

  • For VAT, the deferral will apply until Tuesday 30 June 2020.

All UK businesses are eligible.

This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.

  • For Income Tax Self-Assessment, payments due on Friday 31 July will be deferred until Sunday 31 January.

If you are self-employed you are eligible. This is an automatic offer with no applications required.

No penalties or interest for late payment will be charged in the deferral period.

HMRC have also scaled up their Time to Pay offer to all firms and individuals who are in temporary financial distress as a result of the coronavirus and have outstanding tax liabilities.


Coronavirus Business Interruption Loan Scheme

The temporary Coronavirus Business Interruption Loan Scheme will support SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.

The government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

The government will provide lenders with a guarantee of 80% on each loan (subject to pre-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The scheme will be delivered through commercial lenders, backed by the government-owned British Business Bank.

There are 40 accredited lenders able to offer the scheme, including all the major banks.

You are eligible for the scheme if your business:

  • is UK based, with turnover of no more than £45 million per year
  • meets the other British Business Bank eligibility criteria

The scheme is now open for applications. All major banks are offering this scheme.

To apply, you should talk to your bank or one of the 40 accredited finance providers (not the British Business Bank) as soon as possible, to discuss your business plan. You can find out the latest on the best ways to contact them via their websites. 

The full rules of the scheme and the list of accredited lenders are available on the British Business Bank website.

If you have an existing loan with monthly repayments you may want to ask for a repayment holiday to help with cash flow.


Support for businesses paying tax: Time to Pay service

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC's Time To Pay service.

These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.

You are eligible if your business:

  • pays tax to the UK government
  • has outstanding tax liabilities

How to access the scheme: If you have missed a tax payment or you might miss your next payment due to the coronavirus, please call HMRC's dedicated helpline: 0800 0159 559.


Support for arts, culture and creative industries

If you are an arts organisation, business or individual working in the cultural sector, creative industries or night-time economy in London, please visit the Mayor of London's Culture at Risk website to register your details for support, guidance and resources.

Page last updated: 01 Oct 2020