The Government have announced measures to support the estimated 5 million self employed people in the UK. This covers all sole traders and partnerships.
Here is a brief outline of two Government measures for VAT and Income Tax deferral, as they stand currently, to help small businesses in the wake of the lock-down and a decrease in their operations.
The Association of Chartered Certified Accountants (ACCA) have produced a helpful document which includes further details about the Government’s Job Retention Scheme.
In response to the Covid-19 outbreak, the Government has announced that companies have an additional three months to file their accounts at Companies House.
Here is a summary of Government support for small businesses, including financial measures and concessions to assist in keeping small businesses afloat.