Covid-19 Business Helpsheet

A non-repayable one off cash grant of £10,000.

For any business which occupies a business property which is exempt or on reduced business rates.

Must have been liable for business rates on property since 11/3/2020.

Must have qualified for small business rate relief or rural rate relief on 11/3/2020.

Must have a rateable value under £15,000.

Local authority will contact businesses direct if they qualify, and invite to make an application.

For self-employed individuals.

Non-repayable cash grant up to £2500 per month.

Payable for a minimum of 3 months.

Payment calculated on 80% of profits made in last 3 years.

Grant is taxable therefore will need to be disclosed in 2020/21 self-assessment.

Extension given for a further 4 weeks for any 2018/19 self-assessments not filed.

Grant will be paid in a one-off lump sum in June 2020.

Must have filed a 2018/19 self-assessment return.

Must still be self-employed in 2019/20 and intend to continue trading in 2020/21.

Profits must be £50,000 or below in 2018/19.

Profits must be an average of less than £50,000 per annum for 2016-2019.

Currently no action to be taken.

HMRC will contact all eligible businesses/sub-contractors direct.

There will be an application process following contact from HMRC in June.

A non-repayable one off cash grant up to £25,000.

For businesses in the retail, hospitality and leisure industry.

Businesses in these sectors with a property that has a rateable value of up to £15,000 may be eligible for a grant of £10,000.

Businesses in these sectors with a property that has a rateable value of between £15,000 and less than £51,000 may be eligible for a grant of £25,000.

Business must be located in England.

Business must be in the retail, hospitality, and leisure industry.

Must have a rateable value under £51,000.

Local authority will contact businesses direct if they qualify, and invite to make an application

For businesses who operate a registered PAYE scheme.

Employers can claim 80% of wages costs up to £2,500 per month.

Applies to staff who are ‘furloughed’ as unable to work due to COVID-19.

Scheme will run from 1/3/2020 for a minimum of 3 months.

One claim can only be made every 3 weeks.

Will be paid via BACS payment to business bank account.

Staff must be unable to work due to COVID-19.

Staff must be notified as ‘furloughed worker’ by employer.

Staff must be unable to work from home.

Employees must have been on payroll from 28/2/2020.

Employer must have a registered PAYE scheme with HMRC on 28/2/2020.

Employer must continue to file payroll and pay staff a minimum of grant received.

Employer must make claim via the HMRC online portal (this will be available in April).

For VAT registered businesses.

Optional deferral of any VAT liabilities due between 20/3/2020 to 30/6/2020, until 31/3/2021.

Must continue to submit VAT returns on time.

HMRC will not charge interest or penalties on late payment.

Must be a VAT registered business.

Must continue to file VAT returns on time.

Must cancel any Direct Debit scheme set up with bank.

You do not need to tell HMRC you are deferring payment. Late payment is accepted as long as outstanding amounts arising during COVID-19 period are repaid by 31/3/2020.

For individuals paying income tax under self-assessment.

Optional deferral of 2nd Payment on account (due 31/7/2020) to 31/1/2021.

HMRC will not charge interest or penalties for late payment.

Must be due to pay a 2nd payment on account under self-assessment by 31/7/2020.

This is an automatic offer; you do not need to apply or notify HMRC regarding this.

For employers operating a PAYE registered scheme.

Employers can claim back 14 days SSP for any member of staff unable to work due to COVID-19 illness.

Only applicable for non-furloughed staff who are unable to work due to COVID-19 illness.

Eligible to employers with fewer than 250 employees.

Employees must be on payroll by 28/2/2020.

Employers must maintain payroll records with staff sickness.

Business must be UK based.

A rebate scheme is being developed by HMRC.

Business rates holiday for retail, hospitality and leisure businesses for 2020/21 tax year.

Business must be based in England.

Business must be in the hospitality, retail, or leisure industry.

No action. Local authorities will automatically re-issue 2020/21 rates bill.

Gives small and medium size businesses access to £5m in loans, overdrafts, invoice financing, and asset financing.

40 Accredited lenders including all major banks offering scheme.

Government will provide lenders with a guarantee on 80% of each loan, and make a business interruption payment to cover first 12 months of interest payments and lender fees.

Business must be UK based.

Turnover less than £45m.

Business meets other Bank of England criteria.

Schemes open now for applications.

Contact your own banks for information.

For online assistance google your bank name followed by COVID-19.

For any business. Business (interruption) insurance may cover business income lost during certain circumstances.

Must hold business (interruption) insurance.

Check with insurer/policy specific terms for eligibility.

Must hold business (interruption) insurance.
Check with insurer/policy specific terms for eligibility.

For sole-traders and any individuals.

Government welfare benefit to help pay for living costs.

Standard allowance from 1/4/2020 is £409.89, additional allowance is paid if there are dependants.

Anyone with no or minimal earnings is eligible to apply.

If there are significant savings may not qualify.

Apply online to
www.gov.uk/apply-universal-credit