Finance is a wide ranging subject and specific to each person or business and their individual circimstances. This section provides links to organisations and websites which may be able to help you with advice and also provide you with more specific information in relation to Covid-19.
Worried about Your Finances?
When work suddenly stops the impact on income can be a challenge. The government appreciates this and has put some measures in place to help everyone through this difficult period. The following are reputable websites that will help you find information on various aspects, we appreciate it’s not always easily understood so please give our team a call on 0800 093 8543 and let us help you understand it and how it affects you personally.
Some helpful links for more information
Businesses can contact HM Revenue and Customs new dedicated COVID-19 helpline from 11 March 2020 for advice and support.
For more information
Please check the HMRC document site here.
HMRC Freephone helpline
If you are concerned about being able to pay your tax due to COVID-19, then call HMRC’s dedicated free helpline 0800 0159 559.
The new Coronavirus Business Interruption Loan Scheme is now available for applications for small and medium sized businesses. The scheme will help any viable business with a turnover of up to £45m gain access to government-backed finance of up to £5m. Interest payments and any lender-levied fees for businesses will be covered by the government for an initial period of up to 12 months.
The government has said it will provide lenders with a guarantee of 80% on each facility to give lenders further confidence in continuing to provide finance to SMEs. The scheme is available through more than 40 accredited lenders, which are listed on the British Business Bank website. You can find out more by clicking here.
Lending to larger firms
The Bank of England’s new lending facility for larger firms – the Covid Corporate Financing Facility – will also be open for applications, 23 March.
Bank of England governor, Andrew Bailey, said the Bank of England has taken steps in recent weeks to support the UK economy through the economic shock caused by Covid-19. He said: “On Monday [23 March] a new lending scheme, the Covid Corporate Financing Facility, will open to help businesses manage through this period of uncertainty. Combined with steps taken by the Government, this will help companies through this difficult time and support the needs of the people of this country.”
The Covid-19 Corporate Financing Facility
Information on the Covid Corporate Financing Facility, including which lenders to contact, is available on Bank of England’s website by clicking here
Businesses can talk to their lenders from the start of the day about accessing these loans.
Revovery Loan Scheme
The Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic and is now available through participating lenders.
Find out more about the scheme here by clicking here
A full range of business support measures have been made available to UK businesses and employees in response to the commercial impact of Covid-19 .
This page helps businesses find out how to access the support that has been made available, who is eligible, when the schemes open and how to apply. This website is a comprehensive knowldege base for financial support initiatives available from HM Governement. Find out what support there is for businesses by clicking here.
Sport England has developed a number of funding pots to help those who are in need of support during this chellenging financial period.
You can find out what funding and support is available by visiting their funding page here.
You can find guidance on what available support there is by visiting the Government's Coronavirus webpage and scrolling down to where it lists guidance and support. You can do so by clicking here.
The Sport and Recreation Alliance is committed to keeping people up-to-date with the very latest advice, resources and offers of support in relation to Covid-10.
You can find out what funding sources are available to community sports clubs, schools and not-for-profit organisations by clicking here.