Coronavirus Business Update
Government updates and further guidance on the main Government supports.
CORONAVIRUS SELF-EMPLOYMENT INCOME SUPPORT SCHEME (CSEISS)
HELP FOR THE SELF EMPLOYED
Chancellor Rishi Sunak has announced measures to support the self-employed and partnerships.
VAT DEFERRAL
All UK businesses are eligible. How to access the scheme
Coronavirus Job Retention Scheme – Update
HMRC will reimburse 80% of their wages, up to £2,500 per month. This is to safeguard workers from being made redundant. The Coronavirus Job Retention Scheme will cover the cost of wages backdated to 1ST March and is initially open for 3 months but will be extended if necessary.
THE CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME (CBILS) IS NOW AVAILABLE THROUGH PARTICIPATING LENDERS
CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
Furlough Letters Guidance
An employee furlough refers to a temporary leave or modification of normal working hours for a specific amount of time. It’s a leave of absence given to an employee with the promise that they will still have their job once the leave is over.