COVID-19: Support for businesses

How we are supporting businesses

For a full range of Government support offers please head to the Government's online help tool. To keep up to date with local business news, sign up to receive the Council's business newsletter and to find out more about business support programmes and events provided by the Council and its partners, visit the Wandsworth Enterprise Hub.

Further support includes:

Financial support and cashflow

Recovery Loan Scheme

The Recovery Loan Scheme (RLS) is a new government backed loan scheme. Businesses of any size can apply for loans from £25,000 to £10 million with the Government providing a guarantee to lenders of 80%. The scheme will run until 31 December 2021.

Tax cuts and deferrals

The temporary 15% VAT cut for the tourism and hospitality sectors is extended until the end of March 2021. Businesses unable to pay the full amount by this date, can make smaller payments up to the end of March 2022, interest free.

Businesses that have deferred their VAT bills and unable to pay the full amount by this date, can make smaller payments up to the end of March 2022, interest free. Rather than paying a lump sum in full at the end March next year, they will be able to make 11 smaller interest-free payments during the 2021/22 financial year.

Self-assessment taxpayers will be able to benefit from a separate additional 12-month extension from HMRC on the 'Time to Pay' self-service facility. This means that payments deferred from July 2020, and those due in January 2021, will now not need to be paid until January 2022. Read more on GOV.UK.

Coronavirus sick pay scheme

The scheme allows small and medium sized employers, with fewer than 250 members of staff, to apply to recover the costs of paying coronavirus-related Statutory Sick Pay for two weeks - worth nearly £200 per employee. Find out more.

Commercial tenants

The Government announced that business owners affected by the pandemic will be protected from eviction until 25 March 2022.

Help to Grow programme

The Government has launched a new Help to Grow programme, designed to help small and medium sized businesses to learn new skills, reach new customers and boost profits. To be eligible, businesses need to have been operating for more than one year and have between five to 249 employees.

Support for the self-employed

Read about how the self-employed can access help.

Additional guidance

Further information on COVID-19 support for your business can be found on the following websites:

If you have a query that isn’t covered by this guidance, please contact the Business Support Helpline.