Find out how the government is helping your business through the Corona virus.
The Chancellor announced an expansion of Business Rates Relief.
The current retail discount of 50% will be increased to 100% for 2020-2021, meaning nearly half of all properties in England will pay no business rates for the year.
As well as increasing the relief for retail, the discount for pubs will be increased from £1,000 to £5,000.
The government will also provide a grant of £25,000 to retail, hospitality and leisure businesses whose operating premises have a rateable value between £15,000 and £51,000.
Also, the advice to avoid pubs, clubs and theaters is sufficient to trigger a claim under business interruption insurance, and Pubs and Restaurants can provide a takeaway service without planning application.
If your business premises has a rateable value of less than £15,000 and you pay little or no business rates because Small Business Rates Relief of Rural Rate Relief apply, then you can receive £10,000 from a multi-billion pound fund for local authorities in England.
If your business is eligible then you will be contacted by your local authority about this.
This funding will be provided to the local authorities in early April.
The Government announced the Corona virus business interruption loan scheme.
Through this scheme the Government will guarantee lenders up to 80% of each loan to support confidence in lending to small businesses.
The government will cover the first 6 months of the interest payments.
This guarantee will not be charges for, and will support loans of up to £5 million.
The Government is setting up a helpline to provide support for people who need to defer their tax liabilities.
The helpline will be manned by 2,000 experienced call handlers to provide you with all the help you will need.
If you pay Corona virus related sick pay, and your business employs under 250 staff, then the Government will refund the sick pay, up to 2 weeks per employee.
If you can’t claim statutory sick pay, for example if you are self-employed, then the Government has further measures to help you.
Employment and Support Allowance will be payable from the first day rather than the eight if you are self-isolating because of or affected by the Corona virus.
You will be able to claim universal credit without having to attend the job centre if you are affected by or self-isolating because of the Corona virus.
Whilst the outbreak is happening, the minimum income floor in Universal Credit will be relaxed if you are affected by the Corona virus.