Owner-Managed Businesses

Coronavirus (COVID-19) and OMB ― overview

Produced by Tolley
  • 21 Mar 2022 07:30

The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Coronavirus (COVID-19) and OMB ― overview
  • Key issues
  • Related reading

Coronavirus (COVID-19) and OMB ― overview

The coronavirus (COVID-19) outbreak left many business owners struggling to stay afloat. The Government introduced a range of measures to help support such businesses. In addition, several ad hoc reliefs were introduced to ease cash flow and help businesses throughout the pandemic.

Key issues

The table below details the key measures implemented to date, and also where further information can be found in our guidance. Further reading is also detailed below:

Measure / area affectedDescriptionGuidance note
Support payments The self-employment income support scheme (SEISS) grant, plus a range of other smaller grants and loans are available to support businesses. These are taxed as income where the business is within the scope of

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