The CleverHub

A central source of accountancy related news, arcticles and reviews

Call 0800 756 9786 Call me back

Help for Businesses During Coronavirus Pandemic

by | Mar 18, 2020 | COVID-19

Last night the government unveiled a £350bn package of measures and pledged to do ‘whatever it takes’ to support businesses through the coronavirus pandemic. Here we summarise the key points relevant to small businesses.

Statutory Sick Pay

SSP is £94.25 per week and is now applicable from day 1 of illness, not day 4 as was previously the case. The government will pay 2 weeks’ statutory sick pay for any employees who cannot work due to coronavirus, though SSP remains payable for up to 28 weeks.

Sick notes are not required due to self-isolation measures recommended to help prevent the spread of coronavirus. If your employees require sick leave, please keep a record of the day their sick leave begins and ends so that we can help you make the necessary adjustments to your payroll, if we manage this for you.

Business Rates

Business rates are paused for the 2020/21 tax year for businesses in the retail, hospitality and leisure sector.


Companies that pay little or no business rates because of small business rate relief are now eligible for a one-off grant of £10,000 to help meet ongoing costs. Funding is being provided via local authorities.

Business Loans

A new temporary Coronavirus Business Interruption Loan Scheme will provide lenders with a guarantee of 80% on loans to encourage lending to SMEs. If you think you may need a loan to maintain your business during the pandemic, please contact us to help you review your finances and advise on your needs.

Paying Tax

The government has said it will support ‘businesses and self-employed people in financial distress, and with outstanding tax liabilities’ though HMRC’s Time to Pay service which, as the name suggests, provides a tailored repayment scheme. If you are concerned about meeting your business tax liabilities, please get in touch so that we can help review your finances and advise on the best approach.

How we can help

We appreciate the coronavirus pandemic is extremely worrying for all of our clients and wish to reassure you that we are here to help you as much as we can. There has never been a better time for sound financial planning.

No-one knows what the long-term impact of the coronavirus pandemic will be. Whether you’re affected now, or think you might be in future, please get in touch for help and advice. Our specialist small businesses accountants can help you with:

  • Assisting with cashflow forecasts.
  • Tax planning.
  • Providing information relevant to your grant claim and rate relief.
  • Managing payroll and SSP.
  • Fast-tracking reference requests.

Reactions to the new measures by business leaders:

IR35 - read more about it

Find out what changes are coming, how this could affect you and what we can do to help.


Information for contractors, freelancers and limited company on what help is out there

Our accounting packages

Limited Company

Used by thousands of limited companies and contractors, you get unlimited accounting support and advice, easy-to-use online accounting software all for a single fixed monthly fee. This package also includes our Flex solution to allow seamless switching between a limited company and Umbrella plus free insurance*

Growing Company

Our fully bespoke accounting service for limited companies that are growing or in need of additional services. This package includes a dedicated bookkeeper and payroll solutions for multiple employees together with fully pro-active support and advice and face-to-face meetings via video conferencing.  If you need that extra hands-on service, this is perfect for you.

Need an accountant?

Clever Accounts offers fixed-fee online accountancy support for contractors, freelancers and limited companies.

Dedicated accountants, online accounting software and 15 years expertise in the market makes us the perfect choice.

Find out more Request a call back


Designed for contractors & limited companies


Your own dedicated, experienced accountant


Monthly fixed-fees - no surprise bills


End-to-end IR35 support and guidance


Year end accounts, payroll and VAT