Covid 19: Update 2020-03-18
- Phil Swansborough
- Mar 18, 2020
- 2 min read
Updated: Mar 25, 2020
So the government announced a number of measures last night (Tuesday, 17th March 2020) but detail is still thin on the ground. The main government pages right now that contain information relating to business and the Covid-19 outbreak are here:
The guidance page detailing support for business is here:
We’d highly suggest you read these pages and bookmark them so that you can refer back to them as and when more updates and measures are announced.
The main takeaways in terms of business support so far are as follows:
· Businesses who pay sick pay will receive additional support for those who are off with a C-19 related absence.
o There is no mechanism for this as yet but we are told the government and payroll software providers are working on this as we speak.
o Sick notes will not be needed from a doctor.
o Currently up to 2 weeks will be covered but this may well increase as the outbreak worsens.
· Covid-19 support loans will be available through your usual business bank to cover cash flow issues in the short term.
o The chancellor said these will be available by the coming Monday (23rd March 2020).
o They will be applied for through your business bank account provider.
o The first 6 months will be interest fee with the government covering the interest during that time.
· Business rates:
o Businesses that are entitled to “Small Business Rates Relief” will receive a one off grant of £10,000 - please check with your local authority and look at your rates invoice to find out if you qualify.
o Businesses in the “retail, hospitality and leisure“ sectors that would normally pay business rates will have no business rates to pay during 2020/21- please check with your local authority to find out if this applies to you. Guidance will be available on the 20thof March 2020.
o A £25,000 grant will be available to those in the “retail, hospitality and leisure” sectors if they have a rateable value between £15,000 and £51,000.
· Additional time will given to those struggling to pay their taxes of any variety due to the C-19 outbreak.
o There is a dedicated helpline set up for this: 0800 0159 559
· Businesses that have insurance that covers pandemics and government ordered closures should be covered during this outbreak.
As I’m sure you’ll be aware this situation is incredibly fluid and is changing by the hour. This is the information we have as it stands at this time. More updates will follow as things develop and we very much doubt this will be the last of the government’s support for business.
We wish you the best of health,
From all at The Swansborough Family Partnership Ltd
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