During this time of great uncertainty, the Government is supporting this country economically with the following measures. 

Business Rates 

12 months business rate 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 i.e. those who do not currently pay business rates 

Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000 

Time to pay taxes 

VAT due for payment between 20th March and 30 June is deferred for 3 months 

Self-Assessment payments on account due 31st July 2020 deferred to 31st January 2021. 

HMRC has extended time to pay facilities for payment of taxes, i.e. made them easier to get 

Sick Pay 

Employees eligible for Statutory sick pay should be paid from day 1 instead of day 4 

Statutory sick pay also to be paid to those advised to stay at home (7 days if have symptoms, 14 days if household members have symptoms)  

Self-employed & Low earners can claim for Universal Credit or Contributory Employment and Support Allowance 

Minimum income floor or level of self-employed earnings required to qualify for Universal credit’s sick pay, is to be removed. 

Sick pay is payable from day 1 not day 8 for Employment and Support Allowance 

Advances of Universal credit without a job centre interview, if self-isolating  

Hardship fund for local authorities to support economically vulnerable people & households. 

Employers 

Small employers will be eligible to reclaim up to 2 weeks statutory sick pay, paid due to Covid-19. 

All employers will be able to claim 80% of wages, up to £2,500pm, to pay to staff who they would otherwise have laid off – they will need to be formally registered with HMRC as furloughed. This is initially for 3 months from 1st March.  IT systems are being written, and details are awaited to effect this which is hoped to include zero-hour workers. 

Employment allowance is increased to £4,000 

 Bridging Loans 

Coronavirus Business Interruption Loans available from banks, with no interest payable for 12 months and 80% guaranteed by the government 

Mortgages 

The government has arranged with lenders to offer 3-month mortgage holidays for economically vulnerable property owners. 

Renters 

The government has put a block on evictions for 3 months and include housing benefit in Universal Credit claim relaxations. 

Other services 

The government are working on other measures to maintain services and supplies for example household utilities and public transport.  

Self Employed 

At point of writing, financial assistance of the self-employed has been limited to Universal credits, business rates and e employee protection.  We wait to see if more is announced. 

Vulnerable 

Unfortunately, other than writing to all medically vulnerable adults to advise them to self-isolate for 12 weeks, there have been no specific measures for their economic benefit. 

Local councils have been setting up good delivery structures for foods and medicines, so make sure you reach out if in need. 

General 

Working from home has been advocated for all along with social distancing.  

Online platforms are now awash with what you can do, but please keep social contacts and near your community support structures, in case you do need to self-isolate, and to maintain your mental and physical wellbeing. 

Keep Safe