|
Yesterday the Chancellor announced a support package for the self-employed to match the package for furloughed employees. Effectively they will allow 80% of the profit earned on the last 3 years tax returns up to £2,500 per month. If you do not have 3 years tax returns they will accept what you have from 1 year’s tax return as a minimum. If you have not filed your tax return for 2018/19 due in January, you have 4 weeks to get it in; so act now.
Payment will be adminstered by HMRC and can be expected in June. For full details click here.
For frequently asked questions about the scheme, click here.
Job Retention Scheme
The Government Guidance for this scheme has just been published.
A furlough letter template is shown here for you to send to your staff: Furlough Proposal Job Retention Scheme – Template
The HMRC Portal should be available in April.
The good news is that self-employed individuals who are owner-managers and pay themselves a salary through PAYE will be eligible for support through the Coronavirus Job Retention Scheme. Further details can be found here.
Situation update: correct as of 17.00 26 March 2020
- As of 26 March, 1,809 further people in England have tested positive for COVID-19, bringing the total number of cases in England to 9,782. The total for the UK now stands at 11,658, which includes 894 in Scotland, 741 cases in Wales and 241 in Northern Ireland. A total of 104,866 people have been tested across the UK.
- To see the number of cases of COVID-19 in England and the UK visit the Public Health England dashboard.
- As of 26 March globally there has been 455,085 cases including: China 81,285, Italy 74,386, Republic of Korea 9,241, Iran 27,017, France 24,920, Germany 36,508, Spain 47,610 Japan 1,193, USA 54,367 UK 11,658, Switzerland 9,765, Netherlands 6,412, with 20,798 fatalities globally
- The World Health Organisation has a global map that reports daily on the global cases.
Latest Government advice and links
Further Guidelines Regarding the Coronavirus Business Interruption Loan Scheme (CBILS)
- The Government has sought to make accessing CBILS as easy as possible and are therefore making further clarification on the subject of personal guarantees. Whether a lender requires a personal guarantee for a loan supported by the CBILS is at the discretion of the lender, who is accredited by the British Business Bank. However, a lender is not allowed to take a personal guarantee against a borrower’s principle residence under the scheme. So even if a personal guarantee is required under the lender’s credit policy, it cannot be taken against the borrower’s home. Some major lenders have announced that they are not going to require personal guarantees on loans under CBILS the scheme (of any size). If businesses are worried about the specific terms of finance facilities available under this scheme, they should speak to their usual lender. More information can be found here.
Your Eastbourne BID Street Ambassadors
The BID Street Ambassadors in Eastbourne town centre are working with the Police to patrol the streets to help supermarkets in the town centre manage their queues of shoppers and also to monitor the empty buildings in town to protect them from crime.You can call them on 07516 927 052.
Travel measures, advice and updates:
- London City Airport has announced that it is temporarily suspending its commercial and private flights from the airport. This began last evening Wednesday 25 March and is expected to last until the end of April. This will be keep under review.
- Gatwick Airport remains open but with limited passenger facilities. Rail and coach services are also reduced. Customers are advised to check the latest flight information with their airline.
- Qatar: Has stated that passengers from all destinations served by Qatar Airways can still travel with the airline and transit through Hamad International Airport, subject to entry restrictions at their final destination. However, because of the operational challenges faced due to Covid-19 it has altered or cancelled some of its services. Affected customers can re-book tickets to alternative dates or destinations, opt to receive a voucher for future travel, or get a refund. This policy applies to all tickets issued anytime until 30 September 2020, for travel on or before the same date.
- The United Nations World Tourism Organization (UNWTO), and the World Health Organization (WHO) have called on innovators and entrepreneurs to put forward new solutions to help the tourism sector recover from COVID-19.
Other News
Vehicle MOTs have been exempted for 6 months.
Eastbourne COBRA Meeting Notes
This is a group of the policy makers for Eastbourne including the senior management of Eastbourne Borough Council, Rachel Barrow representing the Police, a report from Darrell Gale of the NHS and Caroline Ansell MP. The meeting is held remotely with dial in questions asked by the Chamber of Commerce, Your Eastbourne BID, Eastbourne Hospitality Association, Matthew 25 Mission, EcoAction and 3VA.
Eastbourne COBRA Meeting 25.03.20
Previous Government advice and links
A Dedicated Website Detailing Business Support
The government has a dedicated website that collates information on the support available for businesses in detail:
https://www.businesssupport.gov.uk/coronavirus-business-support/
There is also a simple page briefly detailing support available; COVID-19 page which details the support available for businesses.
|
