Job Retention Scheme
Government grants will cover 80% of the salary of retained workers up to a total of £2,500 a month. Call HMRC’s dedicated helpline on 0800 0159 559.
£25,000 Grant
This will be provided to retail, hospitality and leisure businesses with premises with rateable value of £15,000 – £51,000.
£10,000 Grant
This will provide a one-off grant to businesses currently eligible for Small Business Rates Relief ( SBRR) or rural rate relief.
Am I eligible?
If your business is eligible for SBRR or rural rate relief, you will be contacted by your local authority. You can make enquiries in any event to check eligibility.
VAT and Income Tax Deferred
VAT payments from March to the end of June 2020 have been automatically deferred until the end of the year. If self-employed, July income tax payments have been deferred until January 2021. You can also access HMRC’s Time to Pay service for other liabilities on 0800 0159 559.
12 Months Business Rates Holiday
12-month business rates holiday for all retail, hospitality, leisure businesses and non-local authority childcare providers. Applied automatically to your next council tax bill.
Business Interruption Loan Scheme
The scheme is being delivered through commercial lenders, backed by the Government-owned British Business Bank. There are 40 accredited lenders able to offer this scheme, including all the major banks.
Sick Pay Relief
SME’s can reclaim statutory sick pay paid for sickness absence due to COVID-19
IR35 Postponed
The IR35 tax reforms will be pushed back by one year for self-employed
If you want to find out anything further about this topic then please feel free to call me on 0330 236 9930, 0330 236 9938 or 07961 116321. All conversations will be in strict confidence. You can also email me vee@navigatebr.com
This article is for information and interest only. It is not a substitute for full professional advice, which will take in to account the specific and individual circumstances. Navigate Business Recovery Limited cannot accept any responsibility for any loss arising as a result of any person or organisation acting or refraining from acting on any information.
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