Unprecedented Measures At Unprecedented Times
EXTENDED HELP TO KEEP BUSINESSES GOING
Chancellor of the Exchequer, Rishi Sunak announced a host of further measures to help businesses across the country.
FINANCIAL HELP FOR WORKERS AND BUSINESSES: JOB RETENTION SCHEME - UP TO 80% OF THE SALARY PAID UP TO £2, 500. Scheme to be administered & applications through HMRC. Should be operational within weeks and at the latest end of April. All payments will be backdated to 1 March 2020. Chancellor promised this will be to support retention of as many jobs as possible and will be in place for at least 3 months. HELP WITH CASH FLOW - TAX. All VAt payments will be deferred until the end of June for the coming 3 months. SOLE TRADERS - FULL ACCESS TO STATUTORY SICK PAY SOLE TRADERS - JULY DUE DATES FOR PAYMENT ON ACCOUNT CANCELLED. DEFERRED TILL JAN 2021. FINANCIAL HELP FOR INDIVIDUALS: £1000 INCREASE TO UNIVERSAL CREDIT £1000 INCREASE TO WORKING TAX CREDIT RENT HELP - 30% HOUSING ALLOWANCE. MEASURES ALREADY INTRODUCED EARLIER IN THE WEEK: - No business rates; - Interest-FREE government-backed loans - today, the interest-FREE period was extended to 12 months. We will be keeping an eye on the latest developments. Measures introduced by the government are vast - we will be checking all the details over the coming days as these will have a profound effect on every single client of ours. As ever, if you have any questions, especially at these times, please do contact us. We will do our utmost to support you in any way possible. Please stay safe. Best Wishes, Jo Burns