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Bureaux de Change: Coronavirus

Treasury written question – answered on 22nd May 2020.

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Photo of Stuart Anderson Stuart Anderson Conservative, Wolverhampton South West

To ask the Chancellor of the Exchequer, what financial support is available for currency exchange bureaus affected by covid-19.

Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary

The Government has announced unprecedented support for business and workers to protect them against the current economic emergency including almost £300 billion of guarantees – equivalent to 15% of UK GDP. Currency bureaus, along with other businesses, may benefit from a range of support measures including:

  • Small business grant funding (SBGF) of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • The Coronavirus Job Retention Scheme (CJRS)
  • The Coronavirus Business Interruption Loan Scheme (CBILS)
  • The Bounce Back Loan Scheme (BBL) for small and micro enterprises
  • VAT deferral for up to 12 months
  • The Time To Pay scheme, through which businesses in financial distress, and with outstanding tax liabilities, can receive support with their tax affairs
  • Protection for commercial leaseholders against automatic forfeiture for non-payment until June 30, 2020

The Business Support website provides further information about how businesses can access the support that has been made available, who is eligible, and how to apply - https://www.businesssupport.gov.uk/coronavirus-business-support.

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