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Coronavirus Information: We are here to help

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Coronavirus - Business Support Guide

Topics Covered:

  • Coronavirus Job Retention scheme (CJRS)
  • Statutory Sick Pay (SSP)
  • Coronavirus Business Interruption Loan Scheme (CBILS)
  • HMRC – VAT Deferrals and Time-To-Pay (TTP)
  • HMRC – Deferrals of Income Tax Self-Assessment Payments
  • Grants and Business Rate Relief
  • Commercial Tenants – Ban on eviction for missing rent payments

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Coronavirus Job Retention scheme

This section includes information and advice on the Coronavirus Job Retention Scheme (CJRS) and is correct at the time of writing.

The most important thing to be aware of is that employment legislation has not been amended and that employment law rights all still exist. So, as always, any decisions or actions need to be carefully considered and documented in writing.

We also expect further developments on the CJRS over the coming days and weeks and will continue to update this guide as required. Our employment law team are available to offer further legal advice on your specific circumstances.

Find out more in our guide.

Statutory Sick Pay (SSP) - Who is eligible for sick pay?

Those who follow the government’s stay at home guidance and who cannot work as a result will be eligible for statutory sick pay (SSP), even if they are not themselves sick. Please see https://www.gov.uk/government/publications/covid-19-stay-at-homeguidance

Employers should use their discretion and respect the medical need to self-isolate in making decisions about sick pay. Workers are eligible for SSP from day one of their illness rather than day four. The Government will underwrite the costs of SSP for up to two weeks for employees off work due to Coronavirus. If you have enhanced sick pay, and the employee qualifies for this, then you should ensure that this is paid.

Find out more in our guide.

Coronavirus Business Interruption Loan Scheme (CBILS)

This is a government backed scheme to support businesses with an annual turnover of up to £45 million, to access loans, overdrafts, invoice finance and asset finance of up to £5 million for up to six years.

Interest costs will be covered by the Government for the first 12 months. The Government will provide a guarantee for 80% of the outstanding facility of each loan.

It’s important that you are aware that you, the borrower will always remain 100% liable for the debt. The CBILS guarantee is to the lender, not the borrower.

Find out more in our guide.

HMRC – VAT Deferrals and Time-To-Pay (TTP)

All UK VAT registered businesses can defer VAT payments due between 20th March and 30th June 2020 until the end of the tax year.

HMRC offers TTP arrangements to allow tax (PAYE, National Insurance, VAT and Corporation Tax) that is owed to be paid over an agreed period.

Find out more in our guide.

HMRC – Deferrals of Income Tax Self Assessment Payments

All self-employed individuals are eligible and the deferral will automatically apply.

Covers all on account income tax payments due on 31st July 2020. Payments will be deferred until 31st January 2021.

It is currently expected that this will also include partners in trading partnerships.

Find out more in our guide.

Grants and Business Rate Relief

Businesses in the following sectors will not have to pay business rates for 12 months between 1st April 2020 and 31st March 2021.

  • Retail
  • Hospitality
  • Leisure
  • Nurseries on Ofsted’s Early Years Register

If you are eligible for this rate relief, you should see your rates bill from 1st April 2020 drop to £0 automatically.

Find out more in our guide.

Commercial Tenants – Ban on eviction for missing rent payments

If you are a commercial tenant, who cannot pay their rent due to Coronavirus, you will now be protected from eviction.

This currently runs up to 30th June 2020. This is not a payment holiday, and all amounts due under the lease will remain due and payable.

It is meant to support ongoing conversations between landlords and tenants about voluntary arrangements.

Find out more in our guide.

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