In response to the current Coronavirus pandemic, and the understandable concerns this will be creating for companies across the country, we have compiled an array of information, documents and links to help business owners and advisors navigate through this uncertain time
Below you will find a collection of articles, documents and links which we feel may help and assist both business owners and business advisors during this difficult time.
Coronavirus Job Retention Scheme – A breakdown of the chancellor’s announcement and the updated rules.
HM Revenue & Customs will launch the Coronavirus Statutory Sick Pay Rebate Scheme on 26 May 2020.
The SEISS portal opened for applications with effect from 13 May 2020. The scheme is open to self-employed taxpayers or members of a partnership who have been adversely affected by COVID-19 to enable them to claim a grant.
Under the Coronavirus Job Retention Scheme the government will pay 80% of employees wages (up to £2,500 per month) if an employer cannot cover staff costs due to COVID-19.
Temporary changes to insolvency legislation, including temporary suspension of “wrongful trading”.
Legislation brought forward to allow small and medium sized businesses and employers can reclaim SSP paid for sickness absence due to COVID-19.
Introduction of business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year.
Introduction of business rates holiday for nurseries in England for the 2020 to 2021 tax year.
Commercial tenants who cannot pay their rent because of COVID-19 will be protected from eviction.
HMRC and Companies House
VAT payments deferred for 3 months. Income Tax Self-Assessment payment due on the 31st July 2020 can be deferred until 31st January 2021.
All businesses and self-employed people facing financial distress may be eligible for HMRC Time To Pay Arrangement.
Companies House have extended the filing deadline until July 2020 (on application)
The Government has announced a new source of funding (launching 4 May 2020) – The Bounce Back Loan Scheme
Coronavirus Business Interruption Loan Scheme supports SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.
Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a case grant of up to £25,000 per property
Government to provide additional Small Business Grant Scheme funding for local authorities to support small businesses. Providing one off grant of £10,000 to eligible businesses
Support for larger firms through new COVID-19 Corporate Financing Facility The Bank of England will buy short term debt from larger companies.
SSP will be paid from day 1, rather than day 4 if you are absent from work due to COVID-19.
If you are not eligible for SSP you can claim for Universal Credit or Employment and Support Allowance.
|Applying for a Coronavirus Bounce Back Loan||click here|
|Regulations temporarily suspended to fast-track supplies of PPE to NHS staff and protect companies hit by COVID-19||click here|
|Companies to receive 3-month extension period to file accounts during COVID-19||click here|
|Coronavirus Business Interruption Loan Scheme (CBILS) is now available through participating lenders||click here|
|COVID-19: Company Voluntary Arrangement – a rescue tool for businesses||click here to download|
|COVID-19: Survival Guide for Directors||click here to download|
|COVID-19: Business Survival Planning helpsheet||click here to download|
|COVID-19: Retail might need some more therapy||click here to view article|
|COVID-19: Arbitration and Expert Determination – taking back control||click here to view article|
|COVID-19: Job Retention Scheme Brochure||click here to download|
|COVID-19: We have to tread a financial fine line during the crisis||click here to view article|
|COVID-19: Final straw for BrightHouse and Carluccio’s||click here to view article|
|COVID-19: Business recovery will take time||click here to view article|
|COVID-19: Airline Insolvency Review needs to spread its wings for wider analysis||click here to view article|
|COVID-19: Cut some slack – these are huge changes||click here to view article|
|COVID-19: Reaction to the Self-Employment Income Support Scheme||click here to view article|
|COVID-19: Practical Steps for Directors||click here to download|
|COVID-19: Business Continuity Plan||click here to download|
COVID-19: In light of the current COVID-19 situation CVR Global has moved to an agile working environment. Our offices will have limited staffing but all of our people are working, and contactable in the usual way. In view of the current arrangements please do not send us communications by post unless absolutely necessary. In the event that a call to the office isn’t answered please email using either email@example.com or if you know the name of the person that you wish to speak to, the following format firstname.lastname@example.org where “a” is the first initial and “smith” is the surname.