How UK assists businesses during the Coronavirus Crisis

1.Support the payment of salaries to employees who would be made redundant because of the Coronavirus - up to 80% of the salary, up to a maximum of £ 2500. There is no restriction on the type of business that can benefit from the scheme.

2. The payment of VAT for the next 3 months until 30 June is suspended. The VAT due will be payable without interest until the end of 2021. Applies to all UK businesses.

3. For self-employed persons who have to pay personal income tax for 2019 in 2020, the deadline is extended to 31 January 2021.

4. Days paid at the hospital by employers of workers with coronavirus patients will be reimbursed to them by the Health Service. Small and medium-sized businesses with up to 250 employees are eligible.

5.Businesses that are in the retail, hospitality and leisure businesses receive a 12 month tax holiday.

6. Grants for retail, hotel, restaurant and entertainment businesses up to GBP 25,000. Businesses with a taxable base of up to 15,000 pounds will receive 10,000 pounds, and those with a taxable base of 15,000 to 50,000 pounds will receive 25,000 pounds.

7. For small and medium-sized businesses with a business interruption due to the Coronavirus and in need of funding, the British Business Bank will extend loans up to £ 5 million, guaranteed by the government for up to 80% and interest rates on these loans for the first year will also be taken over by the government.

8. For large companies, Bank of Englad will buy corporate debt and provide temporary liquidity.

9.For all taxpayers who are late or may be late in tax payments, it is recommended that they contact the tax office and have their case examined individually.

There are similar measures for employees.

This is how governments in countries that think about people react.

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