Written question asked by Daniel Kawczynski (Conservative) on Thursday, 19 March 2020, in the House of Commons. It was due for an answer on Monday, 23 March 2020. It was answered by Steve Barclay (Conservative) on Friday, 27 March 2020 on behalf of the Treasury.

Corporation Tax: Coronavirus

Question: To ask the Chancellor of the Exchequer, what steps he is taking to support businesses that do not have premises that are rateable but pay corporation tax during the covid-19 outbreak.

Answer: A range of measures to support all businesses has been made available. These include the Coronavirus Business Interruption Loan Scheme, allowing businesses to benefit from loans of up to £5m, with the first 12 months of that finance interest free, and the Coronavirus Job Retention Scheme to help keep people in employment. This scheme means businesses can put workers on temporary leave and the government will pay them cash grants of 80% of their wages up to a cap of £2,500, providing they keep the worker employed. They will receive the grant from HMRC, and all UK organisations can self-certify that it has furloughed employees. The scheme will cover the cost of wages backdated to March 1st.

Secondary information