Another week has passed and more support from the Government has been announced although we still await the finer details and the full claims process.
To summarise, we now have the following help available.
Subject to various conditions, you will get a grant of up to 80% of your average profits, capped at £2,500 per month. This should not require any action on your part as H M Revenue and Customs will be checking eligibility and contacting you direct.
The job retention scheme will pay up to 80% of wages, again capped to £2,500 per month. This scheme will require a claim from the employer but the portal to make the claim is not yet open. To access the scheme, employees must be 'furloughed' which means a change in contract so should be confirmed in writing.
Statutory sick pay can be reclaimed where staff are off due to coronavirus.
Please also remember that you have access to HR telephone support as part of our service so if you do need any support as an employer you can call 0844 892 2807 and speak to one of the team.
If you currently receive small business rates relief, you could get a cash grant of £10,000. No need to apply and Welwyn Hatfield Council have begun writing to affected businesses asking for bank details so it would be worth finding that letter!
The personal tax payment due for 31 July 2020 may be deferred to January 2021. You do not need to take any action to benefit from this but may want to get your return for the year ended 5 April 2020 in earlier so you know what the payments will be.
VAT that falls due for payment between 20 March and 30 June 2020 does not need to be paid until 31 March 2021. You must though cancel the direct debit to take advantage of this.
Time to pay has been extended for all taxes and you should call H M Revenue and Customs on 0800 024 1222 to discuss this. The lines are very busy and a web chat is available instead.
The corona business interruption loan scheme (CBILS) is available via your bank although it will require forecasts and a formal application.
Please, continue to stay safe and look after your families.
Paul, Chris and the team