See the latest business support from the Scottish Government (updated 17 Nov 2020)
You can read more about the UK Government's claim for wages through the job retention scheme here
List of available support
- Scottish Government’s Updated list of funding support for businesses in Scotland.
- Coronavirus Business Interruption Loan Scheme (CBILS) from the British Business Bank is supporting SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million. Our accountancy partners, Anderson Anderson Brown LLP (AAB), have produced this useful guidance.
- UK Govt. fast-track finance scheme providing loans of between £2,000 and £50,000 with a 100% government-backed guarantee for lenders.
- One-off grants of £10,000, administered via local authorities, are available to small businesses who are eligible for the Small Business Bonus Scheme or Rural Relief.
- Coronavirus Job Retention Scheme - get the latest information on the furlough scheme.
- Self-Employed Income Support Scheme will provide eligible self-employed individuals (including members of partnerships) to receive a cash grant worth 80% of their average monthly trading profit over the last three years. Along with other UK law societies, we have made representation to the Chancellor to make changes to the threshold.
- HMRC’s Time to Pay service may allow businesses flexibility in meeting other tax liabilities.
- HMRC helpline to offer practical help and advice for businesses and self-employed people who are concerned about paying their tax due to coronavirus COVID-19. Contact the HMRC Helpline at 0800 0159 559
- 1.6% rates relief for all non-domestic properties in Scotland, effectively freezing the poundage rate.
If you are unsure about what Government support packages are available to your business, our accountancy partners have created a simple toolkit to navigate the options based on your particular circumstances. Find our more on the AAB COVID-19 Information hub