Coronavirus (COVID-19) - support for business
Guidance on the NHS test and trace service for employers, businesses and workers:
Business Representative Organisations and Trade Associations are providing coronavirus related support for specific sectors. You can read more here
Previously, 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.
The package includes measures to support businesses including:
- a statutory sick pay relief package for SMEs
- a 12-month business rates holiday for all retail, hospitality and leisure businesses in England
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
- a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
- the HMRC Time To Pay Scheme
The Government has announced a new scheme for those in need of smaller loans. Businesses can apply for the new Bounce Back Loans up to a maximum of £50,000, or 25% of turnover, with the government paying the interest for the first 12 months. The loans will be available from 9am on Monday and the Government will support lending by guaranteeing 100% of the loan.
For more details, please visit this link:
To learn more about how to access the various financial support schemes, please see the link here: https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19
There is a BEIS Business Support Helpline for any queries: 0300 456 3565
Watch videos and register for the free webinars to learn more about the support available to help you deal with the economic impacts of coronavirus here
Safety in the Workplace
The government, in consultation with industry, has produced guidance to help ensure workplaces are as safe as possible.
These 8 guides cover a range of different types of work and can be accessed here: https://www.gov.uk/guidance/working-safely-during-coronavirus-covid-19
Changes to the Coronavirus Job Retention Scheme
On the 5th November, the Chancellor announced that CJRS will be extended until the end of March 2021 for all parts of the UK. For claim periods running to 31 January 2021, the UK Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month. The UK Government will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.
It was also confirmed that the Job Retention Bonus (JRB) will no longer be paid in February 2021, as CJRS will be available at that time. An alternative retention incentive will be put in place at the appropriate time.
Employers in Brentwood and Ongar
Claiming from the Coronavirus Job Retention Scheme
If employers intend to claim under the CJRS, they should look at information published today on how you can check if you’re eligible to claim, and what you need to agree with your employees.
This latest information applies for CJRS claim periods from 1 November 2020. The final date for claims for the period up to 31 October is still 30 November 2020.
The full guidance for claims from November onwards, including more information on how to calculate a claim, will be published on GOV.UK on Tuesday 10th November, and we’ll send you another update to confirm this. Claims can be made from 11 November 2020.
Updated 6th November 2020