Covid-19Posted on 17.03.2020

COVID-19 SUPPORT FOR TAKEAWAYS AND RESTAURANTS

During these uncertain times we know that the Coronavirus is having a significant impact on small and local businesses in the restaurant and takeaway sector.

We’re working closely with the British Takeaway Campaign on your behalf. They have released some important information which we are passing on to you, as it may be useful in the coming days and weeks. 

The following information comes from the British Takeaway Campaign.

In the recent budget, the Chancellor announced a package of measures to provide support for businesses in an effort to minimise the impact of COVID-19. Some banks have also announced support. If you are a restaurant or takeaway owner, you can find below the support available to you during this time. Follow the hyperlinks to find out more information on specific measures. 

Support available

  • A Coronavirus Business Interruption Loan Scheme delivered by the British Business Bank, will enable businesses with a turnover of no more than £41 million to apply for a loan of up to £5 million.
  • A number of private lenders are also making funds available to small businesses impacted by COVID-19, including £14 billion from Barclays, £2 billion from Lloyds Banking Group and £5 billion from NatWest
  • A dedicated HMRC helpline has been set up to help businesses and self-employed individuals with their tax affairs – 0800 0159 559 
  • A full government refund on the cost of providing 14 days of statutory sick pay per employee for businesses with fewer than 250 employees.
  • Temporarily increasing the business rates retail discount to 100% for the 2020-21 fiscal year. This means all retail, leisure and hospitality businesses, including restaurants and takeaways, will pay no business rates in the next fiscal year.
  • For small businesses with a rateable value of less than £51,000, the Government will also offer cash grants of up to £25,000 per business on top of the business rates holiday.
  • The Government will also make available cash grants of up to £10,000 per business, delivered through local authorities.

Further information and guidance

You can find all of these links also on the British Takeaway Campaign website and BTC Twitter feed, which we’ll keep updated with further useful information as it becomes available.