News & Updates - Hardings Chartered Accountants

News and Updates

Help Available During the COVID-19 Crisis

Measure	Eligibility	Information we have so far (details subject to change)
Coronavirus Job Retention Scheme	All UK businesses may be eligible	HMRC will reimburse 80% of qualifying furloughed workers wage costs, up to a cap of £2,500 per month. The portal to enable employers to apply for reimbursement is due to be functional by the end of April, however we are told payments will be backdated. For more information please click here.
Deferring VAT payments	UK VAT registered businesses may be eligible	All VAT payments can be deferred for VAT liabilities relating to the VAT Returns for the Periods Ended 29 Feb 2020 (payable 7 Apr 2020), 31 Mar 2020 (payable 7 May 2020) and 30 Apr 2020 (payable 7 Jun 2020). The deferred payment will be due to be paid by 31 Mar 2021. No application is required. If you have a Direct Debit in place and wish to defer your VAT liability we would suggest you cancel this with the bank. For more information please click here.
Time to Pay service	All UK businesses may be eligible	This is an existing scheme that helps businesses with outstanding tax liabilities. These arrangements are made on a case by case basis. To access please call HMRC’s dedicated helpline on 0800 0159 559.
Self-Employed Income Support Scheme	All Self-Employed UK Businesses may be eligible	This scheme will allow you, (providing you meet the criteria,) to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if necessary. For more information please click here.
Deferring Income Tax payments	Businesses with a Self-Assessment payments on account due on 31st July 2020.	Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021. You do not have to be Self-Employed to be eligible for the deferment. If you have a Direct Debit in place and wish to defer your second payment on account we would suggest you cancel this with the bank. No application is required. For more information please click here.
Support for larger firms through the COVID-19 Corporate Financing Facility	All larger UK businesses may be eligible	The Bank of England will buy short term debt from larger companies in certain instances. More information is available from the Bank of England, to access their site please click here.
Support for businesses who are paying sick pay to employees	If your business is UK based and your business is a small or medium-sized and employs fewer than 250 employees as of 28 February 2020	The Government will bring forward legislation to allow eligible small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19 for the qualifying period. For more information please click here.
Small Business Grant Fund (SBGF) - Funding for local authorities to support small businesses that already pay little or no business rates	If your business is UK based, in receipt of Small Business Rates Relief or Rural Rates Relief and you are a business that occupies property	The Government will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs. The Local Authorities will be in touch with those businesses that qualify. For more information please click here, please note this is also the guidance for the HLGF also mentioned in this table.
Coronavirus Business Interruption Loan Scheme	All UK businesses with turnover less than £45 million may be eligible	This is a temporary scheme which aims to provide SMEs access to finance where required, There are 40 accredited providers in all. The full rules and a list of accredited lenders is on the British Business Bank's website which you can access by clicking here.
Business Rates holiday for retail, hospitality and leisure businesses that pay business rates	If your business is UK based and your business is in the retail, hospitality and/or leisure sector	There will be a business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. No application is required, this will be actioned by your Local Authority for qualifying businesses. For more information please click here.
Business rates holiday for nursery businesses that pay business rates	Your business is UK based, on the Ofsted's Early Years Register and is wholly or mainly used for the provision of the Early Years Foundation Stage.	There will be a business rates holiday for nurseries in England for the 2020 to 2021 tax year. No application is required, this will be actioned by your Local Authority for qualifying businesses. For more information please click here.
Hospitality and Leisure Grant Fund (HLGF)	Your business is UK based and your business is in the retail, hospitality and/or leisure sector	The Government will provide a one-off grant of £10,000 to £25,000 depending on the rateable value of the business. The Local Authorities will be in touch with those businesses that qualify. For more information please click here, please note this is also the guidance for the SBGF also mentioned in this table.
Universal Credit	Individuals with low income within certain criteria	The Government have made some changes surrounding Universal Credit to help individuals who are suffering financial hardship due to the current crisis. For further details about when and how to claim please click here.
New style Employment and Support Allowance	Individuals with low income within certain criteria	For further details about when and how to claim please click here.

For the latest detailed information on the fight against the Coronavirus (COVID-19) from the Government

Click Here

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Article 10 – Self-Employment Income Support Scheme (SEISS) Update & VAT Deferral New Payment Scheme

Created 26/11/2020

Article 9 – Coronavirus Job Retention Scheme (CJRS) Update

Created 25/11/2020

Article 8 – Statutory Sick Pay Rebate Scheme

Created 28/05/2020

Article 7 – Additional Measure to help Critical Workers access childcare

Created 06/05/2020

Article 6 – Update on the Self-Employment Income Support Scheme

Created 06/05/2020

Article 5 – Updated Guidance released today for Statutory Sick Pay paid to employees due to coronavirus (COVID-19)

Created 03/04/2020

Article 4 – How to answer some of the questions you are getting from your employees during the COVID-19 crisis

Created 30/03/2020

Article 3 – Help for the Self-Employed and updated Guidance for the Coronavirus Job Retention Scheme

Created 27/03/2020

Article 2 – Governement’s original response to COVID-19 – see updated table above for more up-to-date information

Created 23/03/2020

Article 1 – Support from Hardings

Created 20/03/2020

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News and Updates

Help Available During the COVID-19 Crisis

For the latest detailed information on the fight against the Coronavirus (COVID-19) from the Government

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