It’s challenging times for business. That is why we have decided to put together this guide to round-up of the assistance provided and special measures put in place to help Digital Marketing Company Newcastle UK businesses to overcome the effects of coronavirus. These include Co-Vid 19 Business Interruption credit, cash grants and latest on Employment Law. We will keep this guide up to date with the latest advice and guidance.
COVID-19 Business Free Support
Rishi sunak Chancellor has set a package of measures to support public services, communities and businesses through a period of disruption caused by COVID-19.
This includes special measures for business support, including:
Coronavirus Job Retention Scheme
Under the Job Retention Scheme Coronavirus, all British businessmen will be able to support the access to continue to pay part of their employees’ salaries for employees that should have been laid off during this crisis.
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All UK businesses.
How to access the scheme
You will need:
appoint employees affected as ‘workers furloughed,’ and informing your employees of this change – change the status of employees remain subject to the existing labor laws and, depending on the employment contract, may be negotiated
send information to HMRC about employees who have been furloughed and their revenue through the new online portal (HMRC will specify further details on the information required)
HMRC will then reimburse 80% of your furloughed workers wage costs, up to the cap of £ 2,500 per month. HMRC are working to create a system for reimbursement as the existing system is not set up to facilitate payments to employers.
If your business requires the support of short-term cash flow, you also may be eligible for Impaired Loans Business Coronavirus.
Defer payment of VAT
The Government will support businesses with Added Tax (VAT) Valued defer payments for 3 months from March 20, 2020 until June 30, 2020.
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All UK businesses.
How to access the scheme
This is an automatic bid without the required application. Businesses do not need to make a payment of VAT during this period. Taxpayers will be given until the end of the 2020-2021 tax year to pay obligations that have accumulated during the suspension period. VAT refunds and take back will be paid by the government as usual.
Sick Pay Law aid package
The government brought forward legislation to enable small-and medium-sized businesses and entrepreneurs to reclaim Compulsory Sick Pay (SSP) paid for the absence of disease because COVID-19. The eligibility criteria are as follows “
This refund will include up to 2 weeks SSP per qualified employee who has been on leave since COVID-19
employers with less than 250 employees will be eligible – the size of the employer will be determined by the number of people they employed as of February 28, 2020
employers will be able to reclaim expenses for each employee who has claimed SSP (according to the new eligibility criteria) as a result of COVID-19
employers must maintain records of staff absence and SSP payments, but employees do not have to provide a record of the GP fit. If the evidence required by employers, people with symptoms of coronavirus get a record of isolation of the NHS 111 online and those who live with someone who has the symptoms can get records from NHS sites
Period is eligible for the scheme will commence the day after the regulations on the extension of SSP for them to stay at home come into force
Government will work with employers over the next few months to arrange payment mechanism for employers as soon as possible
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Your business is based in the UK
small or medium businesses and employ less than 250 employees on February 28, 2020
business rate holiday
The government introduced the Digital Marketing Agencies Newcastle business to business level holiday retail, hospitality and recreation in the UK for the tax year 2020-2021.
