Coronavirus Outbreak Information and Updates
If your business will or has been affected by COVID-19 in anyway – be it staffing concerns, importing or exporting goods issues, or a supply chain issue – please contact our team on 01905 677 888 or email info@business-central.co.uk
In response to the Coronavirus outbreak, Worcestershire Business Central are providing information, guidance, and advice for businesses and employees. Find all the latest information on how we can support your business below.
If your business has been affected by the coronavirus, please take a brief moment to complete our short survey. Click here.
The government are giving businesses access to a £350 billion package of grants, loans, and business support – equivalent to 15% of UK GDP. The following funding and support schemes are available:
Self-employment Income Support Scheme
The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19. The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits up to a cap of £2,500 per month.
HMRC will use the average profits from tax returns in 2016-17, 2017-18 and 2018-19 to calculate the size of the grant. The scheme will be open to those where the majority of their income comes from self-employment and who have profits of less than £50,000. The scheme will be open for an initial three months with people able to make their first claim by the beginning of June.
Find out more
FAQs
Coronavirus Business Interruption Scheme
The Coronavirus Business Interruption scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years. The funding can be accessed through a British Business Bank accredited lender.
Find out more
Business Rates Holiday for Retail, Hospitality and Leisure
A 100% business rates holiday for the next 12 months for all retail, hospitality, and leisure businesses, no matter what their rateable values are.
Find out more
Small Business Rates Relief (SBRR)
Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief. More information to follow.
Find out more
Cash Grant for Retail, Hospitality and Leisure
If your business is in the retail, hospitality or leisure sector, you can receive a cash grant of up to £25,000 per property.
Businesses in these sectors with a property that has a rateable value of up to £15,000 will receive a grant of £10,000.
Businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000.
Find out more
Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
Find out more
Statutory Sick Pay
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. This will provide 2 million businesses with up to £2 billion to cover the costs of large-scale sick leave.
Find out more
Time to Pay
A dedicated helpline has been set up to help businesses and self-employed individuals in financial distress and with outstanding tax liabilities receive support with their tax affairs. If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.
Find out more
VAT Deferral
The government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months.
Find out more
Deferral of Self-Assessment payment
The Self-Assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.
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Covid-19 Corporate Financing Facility
The new Covid-19 Corporate Financing Facility (CCFF) means that the Bank of England will buy short-term debt from larger companies. This will support companies which are fundamentally strong, but have been affected by a short-term funding squeeze.
Find out more
Business Rates Holiday for Nurseries
FAQs
District Councils will provide support is relation the certain elements of the business support, especially around business rates and business rates grants.
Links to relevant district council pages are below.
Guidance for UK businesses trading internationally
Advice for UK businesses that export or deliver goods and services abroad and have been impacted by the spread of Coronavirus (COVID-19). It includes:
- DIT support for UK business trading internationally
- financial support for business trading internationally
Find out more
Guidance for Companies House customers, employees and suppliers
Companies House has robust plans in place to maintain services for customers and protect the welfare of employees during the Coronavirus (COVID-19) outbreak.
Find out more
Business & Premises Closure Guidance
Following government advice that non-essential businesses and premises must now shut, they have released further guidance on what businesses and premises should close and any exceptions. Find out out more.
IR35 Regulations Delayed
Off-payroll working rules reforms postponed until 2021. Implementation of reforms to off-payroll working rules delayed for 12 months. Click here to find out more.
Self-employed Businesses and Universal Tax Credit.
Self-employed businesses can apply for Universal Tax Credit. Find out more.
Mortgage Help for Homeowners
Mortgage lenders have agreed they will support customers that are experiencing issues with their finances as a result of Covid-19, including through payment holidays of up to 3 months. Find out more.
Q&A on Insurance Related Queries
Association of British Insurers (ABI) have produced a Coronavirus Q&A on insurance related queries. Find out more.
Travel Advice for Coronavirus (COVID-19)
Guidance for British people travelling overseas during the coronavirus (COVID-19) pandemic. Find out more.
Working From Home Advice
In these unprecedented times, more and more of us are working from home. Whether your colleagues are practiced homeworkers, or new to it, the same practicalities apply to keep them and your business safe. Find out more.
Resources
Resources have been made available for businesses to access, download and share. You can find out more and access these resources by clicking here.
ACAS - Working for Everyone
Visit the ACAS website to find out information and advice for employers and employees around coronavirus and details of webinars. The Acas website is being updated daily as and when guidance changes.
Additional Sources of Support
We hope you have found the information on this site helpful. We will continue to up-date this page when we receive new information. For additional government support, please follow the link below.
Business Support Outside of Government
Government is working with Business Representative Organisations to support the response to coronavirus and ensure business voices are heard. Each sector has its own business organisation, and many can help you with finding sector specific support.
The Coronavirus (COVID-19) outbreak presents a significant challenge to businesses around the globe.
The UK government, including the health and social care systems, have planned extensively over the years for an event like this, and the UK is therefore well prepared to respond in a way that offers substantial protection.
Businesses in the UK who have been affected, or feel they are likely to be affected by Coronavirus, are urged to seek advice and the government has supplied a series of resources to inform employers on the latest developments and advise on protecting themselves and their employees.
Information for the public on the outbreak of coronavirus, including the current situation in the UK and information about the virus and its symptoms, updated daily on the GOV.UK website.
In most cases, Covid-19 is mild, but everyone should remain vigilant and carry on with good personal hygiene measures, which include:
- Giving your hands a good wash with soap and water is the most effective action you can take (but hand gels can be a good substitute).
- Maintaining personal hygiene when coughing or sneezing is also important – use a tissue rather than your hands and then throw it away.
- Using cleaning wipes to give your keyboard, desk, phone etc. the once-over on a regular basis.
If someone is feeling unwell and has the symptoms set out on the public health website they should not go to their doctor or a hospital. They should ring 111 to get further advice. Keep up to date with advice via the NHS coronavirus web pages.
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If your business has been affected by COVID-19 in anyway, please contact our team.
Call our team today on
01905 677 888