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Support for businesses through the Coronavirus Job Retention Scheme

Support for businesses through the Coronavirus Job Retention Scheme

Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salaries for those employees that would otherwise have been laid off during this crisis. What it means: • HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. • HMRC is working urgently to set up a system for reimbursem…

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Support for businesses who are paying sick pay to employees

Support for businesses who are paying sick pay to employees

Legislation will be introduced to allow small and medium sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: The refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19. The government will refund £94.25 per week, maximum £188.50, t…

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Coronavirus Business Round-Up

Coronavirus Business Round-Up

We are in extraordinary times and we want to support you and your business as much as possible during this period. We’ve put together a business round-up with advice and updates on a number of key areas to help you navigate the confusion. We cover: Business Finance– VAT & Income Tax Payments Deferral– Business Interruption Loans– Job Retention Scheme– Statutory Sick Pay– Self-Employe…

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Business Interruption Loans

Business Interruption Loans

Support for businesses through the Coronavirus Business Interruption Loan Scheme (CBILS) The new Coronavirus Business Interruption Loan Scheme supports SMEs with access to working capital (including loans, overdrafts, invoice finance and asset finance) of up to £5 million in value and for up to 6 years. The government will pay to cover the first 12 months of interest payments and any lender-levie…

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