CoronaVirus and the Recent Floods
Support for businesses affected by flooding.
Please note that Shropshire Council is providing financial support of up to ￡2,500 for businesses directly and indirectly impacted by the flooding. You do not need to have been flooded to apply – the indirect impact is described as “for instance the business has or had no/highly restricted access to premises, equipment and/or stock as a result of flooding, restricted access for customers, suppliers and/or staff, and directly suffered a loss of trade as a result.”
Please use the link below to apply
CoronaVirus latest advice issued by the Government
The link below will be taken to the latest advice issued by the Government. This is changing rapidly and further help is expected to be announced. For instance, the IR35 changes, due next month, have been deferred for a year.
I have also copied below an extract of the measures in the Budget (which seems a long time ago). I tried calling the COVID-19 helpline yesterday and could not get through.
Business support announced in the Budget
In today’s Budget (11 March 2020) the Chancellor announced a package of measures to provide support for public services, individuals and businesses to ensure the impact of COVID-19 is minimised.
A new Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will enable businesses with a turnover of no more than ￡41 million to apply for a loan of up to ￡1.2 million, with the government covering up to 80% of any losses with no fees. This will unlock up to ￡1 billion pounds to protect and support small businesses.
For businesses with fewer than 250 employees, the cost of providing 14 days of statutory sick pay per employee will be refunded by the government in full. This will provide 2 million businesses with up to ￡2 billion to cover the costs of large-scale sick leave.
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.
There will be a ￡3,000 cash grant to 700,000 of our smallest businesses, delivered by Local Authorities, and worth a total of ￡2.2 billion. Small businesses that pay little or no business rates and are eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief will be contacted by their local authority - they do not need to apply. The funding will be provided to local authorities in early April. We will update GOV.UK with the details.
Finally, the government is temporarily increasing the business rates retail discount in England to 100% for 2020-21 for properties below ￡51,000 rateable value. Nearly half of all business properties will not pay a penny of business rates.