Ocean Village

The Government news release

19 March 2020

  • Schools are to remain available to the children of key workers. A list of key workers is available on our Useful Links page.
  • The measures also included Vulnerable children who have a social worker or have an Education Health and Care Plan (EHCP).
  • Business Rates holiday expanded for retail, hospitality and leisure businesses. For more information see our Useful Links page or Business Information section.

17 March 2020

The Government announced measures to enable businesses to preserve short to medium term cash, assisting in staving off threats to insolvency. These include:

  • HMRC to provide assistance through the delay of collection of tax bills (ie PAYE, NI, VAT and CT) through the launch of a new ‘time to pay’ HMRC Coronavirus Helpline number – 0800 0159 559.
  • Business rates abolished for one year for small firms in the retail, leisure and hospitality sectors. This includes hotels, restaurants and coffee shops. There is also a £5,000 business rates discount for pubs with a rateable value below £100,000 in England. This has since been updated, please see the business information page. Guidance for local authorities on the business rates holiday will be published by 20 March.
  • The 700,000 smallest businesses who are already exempt from paying rates are now eligible for £3,000 in grants to help meet business costs.
  • A Coronavirus Business Interruption Scheme has been launched, under which the government guarantees debt to encourage lenders to give loans to companies that would otherwise be deemed too risky. The scheme will delivered by the British Business Bank with more than 40 lenders providing funds as terms loans, overdrafts or asset based lending secured on invoices or equipment.
  • The reimbursement of sick pay costs for up to 14 days, which is just under £200 per employee. If we process your payroll, let us know and we will deal with it for you. You should also consider what is covered under any Keyman Policies you have in place. Please see link below.

DISCLAIMER

This page has been prepared for information purposes only. It is not intended as advice and no responsibility can be accepted by Hopper Williams & Bell Limited and its associated companies for any loss resulting from acting or refraining from acting as a result of any material in it.

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