General Information on Financial Help for Community
We are all affected by the global economic impact
The financial impact caused by Coronavirus has become a global issue and has fundamentally changed the way we live. While the primary concern is health, financial wellbeing is also important to every living soul on earth. Many are worrying about paying their mortgage, rent and other bills.
Each country has its strategy to safeguard their economy and in Britain, Chancellor Rishi Sunak announced, a government-backed loans worth £330 billion to start with; that is equivalent to 15% of Britain’s GDP. The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the Coronavirus outbreak.
The government introduced a business rates holiday for businesses in the retail, leisure and hospitality sectors to help them through disruption caused by Coronavirus. These businesses won’t have any business rates to pay in 2020-21. In addition, a funding grant of up to £25,000 is made available to SME businesses.
UK Government: Coronavirus (COVID-19): helping employers to support employees
Coronavirus: The UK government financial help scheme for self-employed workers, explained | ITV News
Useful links to the UK Government website
Please be Vigilant of Scams
Scammers are taking advantage of Coronavirus to defraud people, especially the elderly and vulnerable. The majority are online shopping scams from fraudsters. There are reports of Coronavirus-themed phishing emails designed to trick people into opening malicious attachments or revealing sensitive information.
Other common phishing emails include sending articles about the Coronavirus outbreak with links to fake company websites, or sending details of investment schemes which encourage people to take advantage of the Coronavirus downturn.
Help from the Scottish Government website
Please note: the information you see on this page is all from third party. Neither UKFCP and the support centre provides financial advice to the public. Links we provide may direct you to third party's pages, please always check before you commit to them.
Coronavirus scams: How to spot them and stop them - Which?
You can protect yourself by:
Being vigilant for scam messages. This includes not clicking on any links or attachments if you receive a suspicious message, and not responding to any unsolicited messages or calls that ask for personal or financial details.
Taking care when shopping online. You should always do your research if you're buying from a company you don't know and trust. You may check their company info from HMRC Company House. If you do go ahead with an online purchase, you should use a credit card if possible for extra protection.
Protecting your devices from threats. This includes always installing the latest software and app updates to protect your devices from new threats.
How can we help?
When general information on financial help makes a difference
General information you may need:
We hope you find the above information useful.
If language is an urgent issue for you and you cannot find a financial advisor who speaks your language, you can get in touch with us for interpretation support available by our English-Mandarin-Cantonese (EMC) Centre.
If you still need help:
UKFCP and our support centre DO NOT give out financial advice. If you need further assistance, please seek your financial advisor or accountant for help. In the situations when you cannot find anyone qualified to advise, you can get in touch with us for referrals. We do not guarantee our referrals will always be suitable for you but we do not recommend advisors we do not know.