Dealing with COVID-19 disruption
Covid-19 – support for businesses
The government have announced in the past 24 hours measures to ease disruption to businesses around the country.
The package of temporary measures announced are:
- A new Bank of England lending facility that extends the business interruption scheme mentioned in the budget, allowing businesses to borrow up to £5million interest free for 6 months. This should be available from next week and the support is being given directly to lenders
- Cash grants of up to £25,000 for retail, hospitality and leisure businesses with a rateable value below £51,000. To claim this, you would need to contact your local authority
- A business rates holiday for retail, hospitality and leisure businesses that will last for 12 months. To claim this, you would need to contact your local authority
- £10,000 cash grants for small businesses (this is an extension of the £3,000 announced in the budget). To claim this, you would need to contact your local authority
- The government have announced that they are happy to discuss time to pay arrangements where businesses can’t pay their taxes. The government will be assessing support on a case-by-case basis and ask that you call their dedicated helpline for COVID-19 on 0800 0159 559
- Statutory sick pay for companies with under 250 employees will be covered by the government (2 weeks SSP per employee who has been off work because of COVID-19). Employers should keep records of staff absences and report these to us together with their monthly payroll.
For more information on the measures announced please see here: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses