|A full range of measures have been made available to support businesses, public services and individuals during the coronavirus (Covid-19) pandemic. Businesses can find out what support is available to them and where and how they can access it by visiting www.businesssupport.gov.uk. |
The measures available to business announced by the Chancellor are:
A Coronavirus Job Retention Scheme where small and large employers will be eligible to apply for a government grant of 80% of workers’ salaries up to £2,500 a month. The scheme will be backdated to March 1 and available for at least three months, with first grants to be paid within weeks.
A Self-employment Income Support Scheme where self-employed individuals will receive a direct cash grant of 80% of their profits, up to £2,500 per month for the next 3 months. The scheme will be open to those with a trading profit of less than £50,000 in 2018-19, or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19
.A new Coronavirus Business Interruption Loan Scheme will be delivered by the British Business Bank. It will enable businesses to apply for a loan of up to £5 million, with the government covering up to 80% of any losses with no fees. Businesses can access the first six months of that finance interest free, as government will cover the first six months of interest payments.
For businesses with fewer than 250 employees, the cost of providing 14 days of Statutory Sick Pay per employee will be refunded by the government in full. Self-employed workers can access the full Universal Credit equivalent to Statutory Sick Pay for employees.
A dedicated helpline to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. Through this, businesses may be able to agree a bespoke Time to Pay arrangement.
If you are concerned about being able to pay your tax due to coronavirus, call HMRC’s dedicated helpline on 0800 0159 559.
A cash grant for small businesses that pay little or no business rates and are in receipt of small business rate relief or rural rate relief. The Council is working hard to identify eligible businesses and will be contacting all those rate payers within the next couple of weeks.
A business rates holiday for retail, hospitality and leisure businesses and nurseries for the 2020/21 tax year.
A cash grant will also be provided to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value under £51,000. The Council will be contacting all eligible rate payers within the next couple of weeks.
For further information and updates on these schemes, please visit www.businesssupport.gov.uk or call the Government’s Business Support helpline on 0300 456 3565. Alternatively contact Business East Sussex, the area’s local Growth Hub, and visit southeastbusiness.org.uk/east-sussex or call 01273 335878.
For further information on the cash grants, download the latest FAQs by visiting www.lewes-eastbourne.gov.uk.