Summary of the latest updates on COVID-19 support measures

Category: COVID-19EQ News - Posted On: Jun 2 2020


To help provide guidance on what assistance is available and the recent changes to existing support measures, we have consolidated the latest updates and information that have been announced since our last summary on 11 May. As always, we are here to offer our support so please get in touch if you require assistance.

Grant Support

Coronavirus Statutory Sick Pay Rebate Scheme is now live

The Coronavirus Statutory Sick Pay Rebate Scheme, repays employers the Statutory Sick Pay (SSP) paid to current or former employees who have been off sick as a result of COVID-19. You can read more about the criteria and what information is need to prepare a claim here.

Self-Employment Income Support Scheme grant is now open for applications

From Wednesday 13 May, applications for the Self-Employment Income Support Scheme (SEISS) can be made by the individual in receipt of the grant during their individual time slot as determined by the online eligibility checker. You can read more about the information required to make the application here. Chancellor Rishi Sunak has also announced an extension to the SEISS, where those eligible will be able to claim a second and final SEISS grant in August. You can read more about the extension here.

Coronavirus Job Retention Scheme update

Chancellor Rishi Sunak announced plans to extend the Coronavirus Job Retention Scheme (CJRS) by another four months, until 31 October 2020, with specific details released on Friday 29 May in relation to part time furloughing, employer contributions and closing to new entrants from end of June. You can read more on these updates here.

Loan Support

Future Fund is now live 

On Wednesday 20 May, the Future Fund started accepting applications to provide convertible loans to innovative companies facing financing difficulties due to COVID-19. You can read more about the key features on the scheme and apply on the British Business Bank website.

The Coronavirus Large Business Interruption Loan Scheme

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides finance to mid-sized and larger UK businesses with a group turnover of more than £45m, the upper limit for the existing CBILS. From 26 May, the maximum amount available through CLBILS increased from £50m to £200m to meet cashflow needs of larger businesses. You can read more details on the scheme, and how to apply, here.

Sector Specific Support

Financial support package for dentists

As well as the general financial support offered by the government for businesses and the self-employed, there are various specific financial support measures that have been put in place to help dentists throughout the current situation. You can read more about these measures here.

Small Business Grant Scheme to provide support for charities

The Scottish Government announced that they are extending the Small Business Grant Scheme to eligible charities who occupy rateable properties and meet the specific criteria and is estimated to be worth an extra £31m, easing the financial burden on charities during these difficult time. You can read more here.

Downloadable Support Summary Document

We have also created a downloadable COVID-19 support summary document which lists all the support measures available to help you identify which are most relevant to you. You can download this here.

As always, we are here to offer our support during these challenging times.

If you would like to discuss any of these support measures, or would like advice on your situation, please get in touch with your usual EQ contact or call one of our offices.