The Chartered Insurance Institute has published an online members’ guide to the financial support available to help them cope with the financial impact of the Coronavirus outbreak.

The professional body with 125,000 members says the guide lists all the current financial support made available so far by the Government.

It also explains how to access the different support schemes and gives advice on applying for support and the eligibility criteria for applicants.

The guidance also covers businesses seeking support on deferring VAT and income tax payments, employers paying sick pay to employees, firms planning to access the Coronavirus Job Retention Scheme and larger firms seeking the Covid-19 Corporate Financing Facility.

There is also an explanation of the new Self-Employed Income Support Scheme (SEISS).

The guide also includes government and third-party links for firms facing financial hardship caused by measures due to the pandemic.

Sian Fisher, chief executive of the Chartered Insurance Institute, said: “While the ready willingness of businesses to prioritise public health is admirable, putting a full stop on business-as-usual could in itself have drastic and long-lasting consequences for the UK economy, as well as each individual business, and every single worker, too.

“It is welcome news that the government has taken action to protect the UK’s businesses during an economic crisis the likes of which have never been seen before. We at the CII encourage all of our members to review this document to see what support is available during these unprecedented times.”

For more information and to view the guide visit: https://www.cii.co.uk/news-insight/coronavirus-hub/articles/government-covid-19-support-packages-for-businesses/91347