The whole country is reeling at the news of the unprecedented restrictions that will be put in place as a result of the fast moving situation relating to the COVID-19 Coronovirus. Everyone is affected, but business owners and managers are facing huge challenges so we are including some government financial advice and useful links. It's an evolving situation, please check the links regularly for updated advice and further government assistance measures.
We understand there will be some help out there, although the mechanics are not in place. The financial help proposed by the Chancellor in the recent budget is:
A Business Interruption Loan Scheme of up to £1.2M per business from the government (through the British Business Bank)
A Business Rates Retail Discount of 100% for properties below £51k rateable value
Very Small Businesses with Premises with Zero Business Rates (less than £12,000 rateable value) will be able to apply for a £3,000 grant
Small and Medium Companies (with up to 250 Employees) will receive up to 2 weeks refund on SSP payments for employees reporting sick as a result of COVID-19
Employees need not provide GP evidence of illness or fit-for-work notes, the employee is entitled on day 1 of the sickness
Businesses and Self Employed may be able to defer Tax through applying to the HMRC for their ‘Time to Pay’ Scheme (call 0800 0159 559).
We understand there will be further financial assistance measures to be announced by the Chancellor imminently.
You may also find the Visit Britain site useful.
It’s a fast moving situation and we are in touch with the council and other stakeholders so will keep you up to date with anything we learn that could be useful. In the meantime, keep your eye on the ABA Facebook page and Instagram feed - we will be adding to them on a regular basis.
Sally Ogden (Chair)
Ella Roberts (Vice Chair)
Gary Thompson (Treasurer)
Sarah Whitelock (Secretary)