COVID-19: Business Support
Understanding Government help for business
This page offers a portal to the most relevant and up-to-date information regarding the available business support that may be available to care providers and training companies.
The information contained on this webpage is for general guidance purposes only. It should not be taken for, nor is it intended as, legal advice. We would like to stress that there is no substitute for companies making their own detailed investigations or seeking their own legal advice if they are unsure about the implications of COVID-19 on their businesses.
The list below summarises the support initiatives available from the Government as at the time of publication:
As events unfold, it is important that you keep this link bookmarked for the most up-to-date information as many of the schemes outlined below are still under development.
Some of this information may be useful for your own business and some of it may be useful so that you can support staff who may be experiencing different situations with their own family members. We thought it useful for you to have all the information as sometimes staff can be very stressed by things affecting them at home.
We do not expect any care businesses to be furloughing people, but if you do find yourself in the unusual position of not having enough work for your employees, please either redeploy them into care positions if possible or offer the person to jobs@hcpa.info as we will try to find temporary positions for care staff.
GOVERNMENT LAUNCHES NEW CORONAVIRUS BUSINESS SUPPORT FINDER TOOL
New ‘Support finder’ tool
A new ‘support finder’ tool will help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the coronavirus pandemic.
Employment Support
Job Retention Scheme (80% of wages reimbursed)
This applies to employers with workers who have been unable to work due to the Coronavirus. The employee is described as ‘furloughed’.
» Work out 80% of your employees’ wages to claim through the Coronavirus Job Retention Scheme
» Coronavirus Job Retention Scheme: step by step guide for employers
» Hertfordshire Chamber of Commerce – Job Retention Scheme FAQs for Employers
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SSP Changes and Support
This applies to UK based employers with fewer than 250 employees as of 28th February 2020.
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- Employees who are sick, or self-isolating, due to COVID-19 will be paid SSP from day 1 rather than day 4
. - Businesses will be able to reclaim SSP for COVID-19 for up to 2 weeks
Cashflow Support
Help and support if your business is affected by COVID-19
This applies to UK based businesses and those registered as self employed.
Watch videos and register for the free webinars to learn more about the support available to help you deal with the economic impacts of coronavirus.
Coronavirus Business Interruption Loans Scheme (CBILS)
This applies to SMEs with UK based business activity and an annual turnover no more than £45m and no more than 250 employees.
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- Loans from £1,000 up to £5 million
. - UK Government to make a Business Interruption Payment to cover the first 12 months of interest and/or any fees
. - UK Government to guarantee 80% of each loan, to increase lender confidence
Self-Employed Income Support Scheme
We realise that some training providers may be self-employed. The scheme will be open to individuals with trading profits of up to £50,000 who make most of their income through self-employment.
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- The government will cover up to 80% of the average monthly profits of these self-employed workers up to a maximum of £2,500
. - This will be in the form of a taxable grant
Taxation Support
Income Tax Deferral for the Self-Employed
If you’re due to pay a self-assessment payment on account by 31 July 2020 but the impact of the Coronavirus causes you difficulty in making payment by that date, then you may defer payment until January 2021.
VAT Deferral
- All VAT registered UK business are eligible
. - The UK government will allow businesses to defer their VAT payments for 3 months
. - This is an automatic offer, there is no need to apply
. - The deferral applies from 20th March 2020 until 30th June 2020. Businesses will have until end of year to pay the deferred VAT
Time To Pay Arrangements
This is an existing scheme, which can be accessed now.
Any UK company facing cash flow challenges may be eligible to receive support with their tax affairs, with Time to Pay arrangements, which are assessed on a case-by-case basis.
If you are struggling to pay your tax bill because of the Coronavirus, you can contact the dedicated HMRC helpline on 0800 015 9559
More information can be found below
» HMRC COVID-19: GUIDANCE FOR EMPLOYEES, EMPLOYERS AND BUSINESSES
» HMRC CORONAVIRUS BUSINESS SUPPORT