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(COVID-19) Self-employment Income Support Scheme This scheme will allow you 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 needed. Who can apply You can apply if you’re a self-employed individual or a member of a partnership and you: have submitted your Income Tax Self Assessment tax return for the tax year 2018-19traded in the

Who are furloughed workers ? If you and your employer both agree, your employer might be able to keep you on the payroll if they’re unable to operate or have no work for you to do because of coronavirus (COVID-19). This is known as being ‘on furlough’. Your employer could pay 80% of your wages through the Coronavirus Job Retention Scheme, up to a monthly cap of £2,500. You’ll still be paid by your employer

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. Eligibility You are eligible if your business: pays tax to the UK governmenthas outstanding tax liabilities How to access the scheme If you have missed a tax payment or you

The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value. Businesses can access the first 12 months of that finance interest free, as government will cover the first 12 months

Business rates holiday and cash grants for retail, hospitality and leisure businesses Cash grants for retail, hospitality and leisure businesses The Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property. For businesses in these sectors with a rateable value of under £15,000, they will receive a grant of £10,000. For businesses in these sectors with a rateable value of between

The government will allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: this refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19employers with fewer than 250 employees will be eligible – the size of an employer will be determined by the number of people they employed as

The government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. If you’re self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021. VAT For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. Eligibility All UK businesses are eligible. How to access the scheme This is an automatic offer with no applications required. Businesses will not need to

Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis. Eligibility All UK businesses are eligible. How to access the scheme You will need to: designate affected employees as ‘furloughed workers,’ and notify your employees of this change – changing the status of employees remains subject to existing employment

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