COVID-19

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Mr J Ewing, Arbroath

“I didn’t know which way to turn. The Insolvency Helpline has been terrific and helped me create a plan for the future.”

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Due to the Covid-19 pandemic the UK Government is providing unprecedented support to businesses across the UK.

Measures are evolving all the time but include the following:

  • A job Retention Scheme has been established to avoid staff being laid off. The Government will pay 80% of an employee’s usual monthly wage costs up to £2,500 a month.


  • Businesses will be able to defer VAT payments until 31 March 2021 and ‘Time to Pay’ arrangements may also be available for other taxes owed.


  • Business rate holidays are being offered to all businesses in qualifying sectors.


  • Wrongful trading has been temporarily suspended effective from 1st March 2020. This is a relief to many Directors whose businesses are struggling with cash-flow problems and insolvency.


  • Cash grants are being offered to eligible businesses in a number of sectors including retail and hospitality. Government backed loans are also available for businesses struggling with cash-flow issues.

In addition to the above Directors could also be entitled to redundancy payments of up to £15,750 (plus other statutory entitlements) from the Government if they close their company.


At the Insolvency Helpline we can guide you through all the Government support available and due to changes introduced 6 April 2017 there is no longer a need for physical meetings.

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