UPDATED ON 1 APRIL AT 13:25
South Oxfordshire and Vale of White Horse District Councils are committed to supporting all local businesses. We are working with the Department for Business, Energy and Industrial Strategy (BEIS) to understand the UK Government’s support available and when it will be available.
Below is a summary of the latest information.
Download the Financial Support infographic here.
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.
This includes a package of measures to support businesses including:
- Small Business Grant Scheme
- Expanded Retail Discount Grant
- Business Interruption Loan Scheme
- Self-employment Income Support Scheme
- COVID-19 Corporate Financing Facility
- Job Retention Scheme
- Business Rates Relief
The Government will bring forward legislation 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:
- this refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19
- employers with fewer than 250 employees will be eligible – the size of an employer will be determined by the number of people they employed as of 28 February 2020
- employers will be able to reclaim expenditure for any employee who has claimed SSP(according to the new eligibility criteria) as a result of COVID-19
- employers should maintain records of staff absences and payments of SSP, but employees will not need to provide a GP fit note
- eligible period for the scheme will commence the day after the regulations on the extension of Statutory Sick Pay to those staying at home comes into force
- the government will work with employers over the coming months to set up the repayment mechanism for employers as soon as possible.
- Commercial tenants unable to pay rent because of Coronavirus will be protected from eviction
- Measures support ongoing conversations between landlords and tenants about voluntary arrangements
- Latest measure builds on the unprecedented package of support for businesses already announced
These measures will mean no business will be forced out of their premises if they miss a payment in the next 3 months.
As commercial tenants will still be liable for the rent after this period, the government is also actively monitoring the impact on commercial landlords’ cash flow and continues to be in dialogue with them.
Time to Pay (HMRC)
HMRC has set up a dedicated COVID-19 helpline to help those in need, and they may be able to agree a bespoke Time to Pay arrangement.
HMRC will also waive late payment penalties and interest where a business experiences administrative difficulty contacting HMRC or paying taxes due to COVID-19.
If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.
Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc is sufficient to make a claim.
Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Most businesses are unlikely to be covered, as standard business interruption insurance policies are dependent on damage to property and will exclude pandemics.
The Government’s Business Support Helpline is available for businesses in England, of all sizes, who wish to speak directly to an advisor about the impact of Coronavirus. The number to call is 0300 456 3565.
Government is also advising businesses to build their own resilience by reviewing their business continuity, developing an understanding on the potential impacts to their supply chains, customers or other factors critical to their operations.
This is a rapidly evolving situation, which we are monitoring carefully. The situation is kept under constant review and any change in guidance will be based on scientific evidence. The Government’s approach is clinically led, based on the expert advice of the UK’s Chief Medical Officer for England, the NHS and Public Health England.
Businesses should check for daily updates at GOV.UK and subscribe to receive email alerts to ensure they are acting on the most up to date information.