COVID-19

ADVICE FOR BUSINESSES

USEFUL LINKS

CORONAVIRUS JOB RETENTION SCHEME

Most of you will have been using the CJRS since it was introduced in April to keep staff on during lockdown.

There have been a number of changes made to the scheme since its introduction, including its most recent extension to March 2021.

So, do if you haven’t already check out the latest guidance, updated on 31 October with answers to all your important questions, like: 

  • What percentage of my employees’ wages will I have to pay?
  • Can I bring staff back part-time?
  • What’s the maximum I can claim for each employee?

For the answers to these and other important CJRS questions, check out the full guidance.

BUSINESS LOANS

The Coronavirus Business Interruption Loan Scheme (CBILS) has been significantly expanded and amended since it was launched back in March. It is now open to more smaller businesses.

Insufficient security is no longer a condition to access the scheme.

You can access up to £5m in the form of, term loans, overdrafts, invoice finance or asset finance from one of more than 40 lenders overseen by British Business Bank.

No personal guarantees are not required for loans under £250,000.

The Government guarantees 80% of the finance to the lender and will cover the interest and any fees for the first 12 months of the loan. 

The scheme is now open until 31 January 2021. 

If you’re a larger business, you may be entitled to other government support. 

For more information about CBILS click here. 

STATUTORY SICK PAY

All SMEs – those employers with fewer than 250 employees – can reclaim Statutory Sick Pay for sickness absence due to COVID-19 for two weeks.

You’ll need to keep records of the absences but won’t require a GP note.

BUSINESS RATES

No hospitality business will have to pay business rates for 2020-2021 tax year.

Any hospitality business premises with a rateable value of £15,000 – £51,000 will receive a grant of £25,000.

Contact your local council if you’re not getting a relief you think you’re entitled to. 

RENT & PROTECTION FROM EVICTION

The Government has extended the moratorium on lease forfeitures until the end of December.

The moratorium is now supported by a voluntary Code of Practice which encourages tenants to pay their rent in full, if they can, but states that landlords should support any tenants who are unable to do so.

Full details can be found here.

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