All RCM Advisory offices are closed to the public as a result of the COVID-19 'Coronavirus' pandemic. We are continuing to operate our services with many of our staff working remotely when possible.
Updated: 25th March 2020 - 08:45
The impact of COVID-19 'coronavirus' on the health and wellbeing of the UK's population and economy is already being felt, with the situation likely to continue for many weeks and months to come. It is important to remember that there is support available for businesses and individuals who are experiencing financial difficulty as a result of the disruption.
The government has announced several support initiatives which are available to businesses including:
a Coronavirus Job Retention Scheme.
deferring VAT and Income Tax payments.
statutory sick pay relief package for small and medium-sized enterprises (SMEs).
a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England.
small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief.
grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000.
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
a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans.
the HMRC Time To Pay Scheme to help with tax.
Your business may be eligible for support, but it's important to recognise some of these initiatives are loans which will need to be paid back in the future. If you are worried about your or your business's financial situation and would like advice on the available options, you can call us on:
0800 288 4088