25 March 2020 Update on business help
25th of March, 2020The Covid 19 help for businesses is beginning to be available.
Mortgage holidays are now on lenders' websites and seem easy to process - apart from long call times to get through.
The Local Authorities have now put application forms on their websites for the Coronavirus Fund Grants for small businesses who are eligible for the Small Business Bonus Scheme rates exemption. They are suggesting that monies will be paid within 10 days of their receiving a completed application form.
The Business bank has organised CBILs (Coronavirus Business Interruption Loans) and these can also be applied for.
HMRC are still working on the portal to re-claim 80% of the wage costs of Furloughed employees and it is important to note that this will apply to wage costs over a period prior to 1 March 2020 for staff for whom no work is available. We can advise on this scheme if employers are trying to decide what to do with their staff costs.
Below are some useful links;
https://findbusinesssupport.gov.scot/coronavirus-advice
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19
We are still waiting to here what provision there will be for the self employed.
