Raab pledges continued support for business
Foreign Secretary Dominic Raab chaired meetings with senior ministers and cabinet today to discuss action being taken across all strategic areas including the economy and support for both businesses and workers as he continued to deputise for Prime Minister Boris Johnson.
Mr Johnson was admitted to intensive care last night as he continues to suffer from coronavirus. Mr Raab said at today’s press conference that the Prime Minister was in a stable condition and receiving the “very best care” from the medical team at St Thomas’ Hospital.
Mr Raab said: “I’m confident he will pull through. One thing I know about this Prime Minister is, he’s a fighter. And we know exactly what he wants from us and expects from us.”
Meanwhile, the government announced today the basic element of Working Tax Credit has been increased by £1,045 to £3,040 until 5 April 2021. The amount a claimant or household will benefit from will depend on their circumstances, including their level of household income, but it could mean up to an extra £20 each week. The government has also uprated Child Benefit, other tax credit rates and thresholds and Guardian’s Allowance by 1.7%, with effect from 6 April 2020. The full list of rates and allowances can be read here.
There is also new guidance for employees who may have lost their jobs due to the COVID-19 outbreak. The latest government guidance on dismissal (click here to view) states that if an employee has lost their job because of coronavirus (COVID-19), the employer may be able to re-employ and pay 80% of wages under the Coronavirus Job Retention scheme – click here to view.
Additional new guidance
Off-payroll working rules (IR35) reforms postponed until 2021 Reforms to off-payroll working rules have been delayed by 12 months as part of the government’s Covid-19 economic response package. Click here to view.
The rules, which ensure two people sitting side by side doing the same work for the same employer are taxed in the same way, will now come into effect on 6 April 2021 instead of 6 April this year.
Amendments to rules and regulations
The Government has relaxed rules and regulations to help businesses handle any disruption they are experiencing due to coronavirus (COVID-19) during this unprecedented time. A full list of the changes are here.
Upcoming webinars
UK Government’s Business Support Website has a list of upcoming webinar events from Government and non-government partners. You can find more information here.
HMRC are delivering a programme of webinars on measures to support employers, employees and the self-employed through this period of disruption caused by COVID-19. You can watch a video of the recorded webinar on the HMRC YouTube channel Coronavirus – (COVID-19): helping employers to support employees – click here.
Can your business offer Coronavirus support?
NHS asks people to share their coronavirus symptoms to help others
A new Coronavirus Status Checker will help the NHS coordinate its response and build up additional data on the COVID-19 outbreak. It is open to anyone in the UK to use on the NHS website and in its initial phase the NHS is particularly keen for anyone who thinks they may be displaying potential coronavirus symptoms, no matter how mild, to complete it. Please share the checker with your employees and networks. You can find more information here.
Can your business offer further support?
The UK Government is looking for businesses who can offer support in the multiple areas and has set up an online tool where businesses can register. To offer support click here. The support needed includes things like:
- medical testing equipment
- medical equipment design
- protective equipment for healthcare workers, such as masks, gowns and sanitiser
- hotel rooms
- transport and logistics, for moving goods or people
- manufacturing equipment
- warehouse or office space, for medical use or storage
- expertise or support on IT, manufacturing, construction, project management, procurement, engineering or communications
- social care or childcare
Government COVID-19 FAQs
Frequently asked questions for businesses and employers, on business closures and stay at home, and on the self-employment income support scheme, are available on the business support website. Click here.
Business support packages: latest updates
- Extra protection for businesses with ban on evictions for commercial tenants who miss rent payments – click here
- Financial assistance for employers unable to pay statutory redundancy payments – click here
- The Coronavirus Job Retention Scheme – click here.
- Deferring VAT and Income Tax payments – click here.
- Statutory Sick Pay relief package for SMEs – click here. NEW GUIDANCE
- 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England – click here
- Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief – click here
- Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000 – click here
- The Coronavirus Business Interruption Loan Scheme offering loans of up to £5million for SMEs through the British Business Bank – click here. OPEN
- A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans – click here. OPEN
- The HMRC Time To Pay Scheme – click here
- Import duties and VAT on vital medical equipment – click here