The government now has a range of measures in place to support businesses during this time. This page will updated frequently in line with new announcements.

Call the new local Covid 19 helpline 01522 782189 or email to speak to a local business adviser at the Growth Hub.

The Chancellor announced in the Budget a £12 billion plan to provide support for public services, individuals and businesses whose finances are affected by COVID-19. This was followed up by a further announcement of a £350bn package of guarantees to support business.

The government is also calling for manufacturers to support the production of ventilators. Please call the BEIS Business Support helpline on 0300 456 3565 where a specific team is in place.

Please refer to the Business Lincolnshire Growth Hub website for the most up to date local information regarding support for your business. 

The Chancellor has set out a package of measures to support public services, people and businesses through this period of disruption caused by COVID-19.

The Business Support arm of Government has a comprehensive website covering all aspects of the new measures. 

For a full list of businesses that are now expected to close, please read this guidance

Extended Coronavirus Business Interruption Loan Scheme (CBILS) 
The Government has extended the CBILS so that all viable small businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time. 

The government is also stopping lenders from requesting personal guarantees for loans under £250,000 and making operational changes to speed up lending approvals. The government will continue to cover the first twelve months of interest and fees.
Please find further details here

New Coronavirus Large Business Interruption Loan Scheme (CLBILS)
The new CLBILS will ensure that more firms are able to benefit from government-backed support during this difficult time. It will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million. 
Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest and further details of the scheme will be announced later this month.
Please find initial details here

Further Updates

  • Announced 26th March 2020: A new support scheme for self-employed workers
  • Government will help pay wages through a coronavirus job retention scheme
  • VAT for all businesses deferred until end of June and the business loan scheme will now be interest free for 12 months
  • Universal Credit allowance increases £1,000 a year and the next tax self assessments will be deferred until start of next year
  • Self-employed will get full Universal Credit at a rate equivalent to statutory sick pay, and a further £1bn to cover 30% of house rental costs
  • Further measures will be announced from 23rd March to ensure SMEs will be able to access the credit they need
  • Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction.
  • Companies to receive 3-month extension period to file accounts during COVID-19

Self-Employment Income Support Scheme

The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits up to a cap of £2,500 per month.

HMRC will use existing information to check potential eligibility and invite applications once the scheme is operational. HMRC will then pay the grant directly to eligible claimants’ bank account. HMRC is urgently working to deliver the scheme; grants are expected to start to be paid out by beginning of June 2020.

Do not call HMRC now. HMRC will contact you once the scheme is fully operational. 

Coronavirus Job Retention Scheme

UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis.

This applies to employees who have been asked to stop working, but who are being kept on the pay roll, otherwise described as ‘furloughed workers’.

HMRC will reimburse 80% of their wages, up to £2,500 per month. This is to safeguard workers from being made redundant. The Coronavirus Job Retention Scheme will cover the cost of wages backdated to March 1st and is initially open for 3 months, but will be extended if necessary.

See here for full details

Employers will be able to use a portal to claim for 80% of furloughed employees’ (employees on a leave of absence) monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage.

Please use this link to access the guidance.


The Government have announced the Time to Pay scheme to help with tax payments. This will be ongoing for the foreseeable future. 

Call HMRC - 0800 0159 559 to discuss your circumstances. 

Business Rates Holidays

If you normally pay Business Rates, there is now a 12-month business rates holiday for retail, hospitality and leisure businesses in England

  • If you are currently receiving the retail discount for your Business Rates bill, you will receive a revised bill with 100% relief.
  • If your business occupies a property in the retail sector with a rateable value of £51,000 or more, or your business occupies a property in the leisure/hospitality sectors, you may also be eligible for the 100% discount on your business rates bill.
  • If you are a nursery, you will be entitled to the 100% relief for the next year.
  • This scheme is now available. You should contact your Local Authority for more information. 

If you pay little or no Business Rates, you are entitled to a one-off cash grant of £10,000:

  • If your business is in the retail, hospitality or leisure sector in England, you may be entitled to a cash grant. If you have a property with a rateable value of less than £15,000 you will be entitled to a grant of £10,000, whether or not you are entitled to small business rate relief or rural rate relief. If you have a property with a rateable value of between £14,999 and £51,000 you will be entitled to a cash grant of £25,000.
  • Funding will be available from early April. Your Local Authority will then be in touch to provide details on how to claim this money.


The Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance:

  • Temporary Coronavirus Business Interruption Loan Scheme, delivered by British Business Bank, will support businesses to access bank lending and overdrafts.
  • 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 £5m in value. The first six months of these loans will be interest free, as the Government will cover these payments.
  • Businesses remain responsible for repaying any facility they take out.
  • This scheme has now been launched. Businesses will be able to get finance under the scheme from a large number of providers, including the main high street banks

Business Insurance

The Government’s current medical advice is sufficient to enable businesses which have insurance policy that covers both pandemics and Government ordered closure to make a claim. To make arrangements, contact your own business insurance provider. 

Mortgage Break

Mortgage lenders have agreed to support customers experiencing issues with finances as a result of Covid-19, including payment holidays of up to three months. This will give people time to recover and ensure they do not have to pay towards their mortgage in the interim. You should liaise directly with your own mortgage company or bank to make arrangements. 

Key Workers

The Government announced a list of Key Workers. Parents whose work is critical to the COVID-19 response include those in health and social care and in other key sectors will be able. Children of Key Workers will be able to access schools. 

Please refer to the Business Lincolnshire Growth Hub website for the most up to date local information regarding support for your business. 


This page was updated on April 3rd 2020