{"id":19996,"date":"2020-03-18T15:40:00","date_gmt":"2020-03-18T15:40:00","guid":{"rendered":"https:\/\/smh.group\/?p=19996"},"modified":"2023-02-15T13:51:52","modified_gmt":"2023-02-15T13:51:52","slug":"smh-update-on-covid-19-18th-march-2020","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/smh-update-on-covid-19-18th-march-2020\/","title":{"rendered":"SMH Update on COVID-19 \u2013 18th March 2020"},"content":{"rendered":"\n

The Government have released more response and measures to the Covid-19 pandemic, we have put together below, a summary of the announcements to date and what we know so far.\u00a0<\/strong> <\/p>\n\n\n\n

What we already knew:<\/strong><\/h3>\n\n\n\n

The following measures were announced in the Budget and have not (to date) been updated:<\/p>\n\n\n\n

  • Statutory Sick Pay (SSP) to be paid from the first day of absence, not the fourth, where people have the virus or have to self-isolate, or care for such people.<\/li>
  • Support through Universal Credit and Employment and Support Allowance for self-employed people and others not entitled to SSP.<\/li>
  • Full funding of the cost of two weeks\u2019 SSP for small and medium-sized employers whose workers have claimed SSP as a result of coronavirus.<\/li>
  • Businesses and self-employed individuals in financial distress will be able to negotiate \u2018time to pay\u2019 arrangements with HMRC without incurring late payment penalties.<\/li><\/ul>\n\n\n\n

    New Information from 17 March 2020:<\/strong><\/h3>\n\n\n\n
    • Any business<\/strong> that needs access to cash to pay their rent, salaries, suppliers, or to purchase stock, will be able to access a government-backed loan on “attractive terms” (which have not yet been specified).
      • That support will be delivered to small and medium businesses via the new Business Interruption Loan Scheme (announced at the Budget), which will now provide loans of up to \u00a35 million<\/strong>, with no interest due for the first six months<\/strong>.<\/li>
      • The scheme will be up and running by the start of next week.<\/li><\/ul><\/li><\/ul>\n\n\n\n

        **PLEASE NOTE, WE DO NOT YET KNOW HOW TO ACCESS THIS FUNDING BUT WE WILL ANNOUNCE MORE WHEN WE DO** <\/strong><\/p>\n\n\n\n

        • Retail, hospitality and leisure sectors<\/strong>
          • All businesses (not just those with a rateable value of less than \u00a351,000, as previously announced), will pay no business rates for 2020\/21. <\/strong> <\/li>
          • Those businesses with a rateable value below \u00a351,000 will also be eligible for an additional cash grant of up to \u00a325,000 (i.e. cash payment from the government) per business.<\/li><\/ul><\/li><\/ul>\n\n\n\n

            This means that every single shop, pub, theatre, music venue, restaurant , etc. will pay no business rates whatsoever for 12 months and, if they have a rateable value of less than \u00a351,000, they can now get a cash grant as well.<\/p>\n\n\n\n

            • The 700,000 or so small businesses<\/strong> that are already eligible for 100% business rates relief will receive a grant of  \u00a310,000<\/strong> (not \u00a33,000, as previously announced) to help with business costs.<\/li><\/ul>\n\n\n\n

              For those individuals<\/strong> in difficulty due to coronavirus, mortgage lenders will offer at least a three-month mortgage holiday<\/strong>, so that people will not have to pay a penny towards their mortgage while they get back on their feet.

              Separately, speaking in Parliament on Tuesday evening, Chief Secretary to the Treasury Steve Barclay said: \u201cThe government is postponing the reforms to the off-payroll working rules, IR35, from 6 April 2020 to 6 April 2021.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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