There's no doubt that the Chancellor is doing all he can under the circumstances to keep our businesses viable by offering unprecedented financial help, but of course you need to know about it and then take advantage.
Quoting from the .gov website:
From Monday 4th May, HM Revenue and Customs (HMRC) will begin contacting customers who may be eligible for the government’s Self-Employment Income Support Scheme (SEISS).
Those who are eligible will be able to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500 (equivalent to three months’ profits), paid in a single instalment.
HMRC is also inviting customers, or their agents, to go online and check their eligibility for SEISS.
The last paragraph is important because you may be eligible without HMRC realising, and remember this is a GRANT, not a loan, and although taxable this is INCOME which you don't want to miss out on.
Go to: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme for full details.
BOUNCE BACK LOAN SCHEME:
AND, don't miss out on the government's offer of a BOUNCE BACK LOAN.
If your business has been affected by the coronavirus pandemic, this is your opportunity to inject some much needed cash, with an INTEREST FREE (for 12 months) loan of between £2,000 and £50,000 or 25% of your last financial year's turnover. NO PAY-BACK is required for 12 months and you can then pay back at just 2.5% (fixed) up to a further 5 years if required.
Just think what you can do with up to £50K in your business?
See the .gov details at: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan
Also respected 'Money Saving Expert advisor - Martin Lewis:
https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/
This loan scheme is EASY to apply for and in most cases the money will be in your bank account within just a few days.
So if you've previously been unsure of these schemes, you can now click the links and make your choices.
Stay safe,
Simon
The Bestof Market Harborough.
PS: If you have a local business, and would like help with your marketing, please reach out to me. - 07944 167840.
