Latest updates on Covid 19 for businesses and employers

The Government have announced a range of measures to support businesses and employees (including self -employed people).  

This includes: 
Businesses and employees need to check regularly for updates
  • a Coronavirus Job Retention Scheme
  • deferring VAT and Income Tax payments
  • a Self-employment Income Support Scheme
  • a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
  • a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
  • small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
  • grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
  • the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
  • business 'bounce back loans'
  • the HMRC Time To Pay Scheme

All of the guidance is constantly being changed and updated and the  latest updates from the Government/HMRC can be found here:

Guidance and support for employers

Check if a furlough claim can be made

How to claim under the job retention scheme

Guidance and support for employees

Guidance and support for businesses including self employed

Bounce back loans application and information

More information about this and regular updates can be found on  HMRCs dedicated business support webpage   and also for general information on the virus at GOV.UK.

A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. Through this, businesses may be able to agree a bespoke Time to Pay arrangement. If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.

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