We have collated the following information and resources for our BID businesses to help during the ongoing Covid-19 pandemic.
Government Guidelines For Retail Reopening
The UK government has released the following document, detailing the steps retail businesses need to fill to re-open from 15th June.
A poster to download to show your business is complying with the guidelines can be downloaded here.
Getting Your Business Ready
To help our BID businesses we have put together a “Return to Business” document with things you should be considering, a list of companies offering physical distancing equipment, signage and other tools you may need to invest in before opening.
Breakdown of Document
For the latest advice from Central Government please regularly visit the guidance for businesses, employers and employees page on the Government website. https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19
To help stop the spread of the virus and restrict the demand on our national health service please follow the NHS public advice. https://www.nhs.uk/conditions/coronavirus-covid-19/
For businesses that have had to temporarily shut, or for those who have remained open The National Business Crime Centre has released the following information https://nbcc.police.uk/news/letter-from-the-nbcc-regarding-covid-19
Current Support For Businesses
Time to Pay arrangements available through dedicated HMRC COVID-19 helpline: 0800 0159 559
Waiver of late payment penalties (for businesses who can’t pay or have administrative difficulties contacting HMRC)
VAT payments deferred for 3 months to 30th June for all businesses. July self-assessment payment for Income Tax delayed until January 2021 Full Universal Credit at a rate equivalent to Statutory Sick Pay for the self-employed
Coronavirus Job Retention Scheme
The government will cover 80% of salaries of retained workers who aren’t working (up to £2,500 per employee) From August employers using the scheme will have more flexibility to bring furloughed employees back to work part-time whilst still receiving support. The scheme is designated for furlough workers only. Full details here: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme
Business Rates Holiday
Business rates holiday for all retail, hospitality, leisure sector businesses and nurseries for 12 months
Statutory Sick Pay
The government will refund the cost of providing 14 days SSP per employee (businesses with less than 250 employees)
£10,000 for the smallest businesses eligible for Small Business Rates Relief
(available via Basingstoke and Deane Council – Online form available here)
£25,000 for the small retail, hospitality and leisure sector businesses
(with a rateable value less than £51,000) To update your contact details or change how you wish the council to communicate with you please go to: www.baingstoke.gov.uk/self=serve-rates If you prefer information to be sent by post but will be unable to collect the post from the address to which they send the business rates bill, let BDBC know by emailing [email protected]
Government Backed Loans
£330billion of government-backed and guaranteed loans
Coronavirus Bounce Back Loan
This scheme helps small and medium-sized businesses to borrow between £2000 and up to 25% of their turnover. The Government guarantees 100% of the loan and there won’t be any fees or interest to pay in the first 12 months. Full details here – https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan
Mortgage & Rent Support
3-month mortgage payment holiday. 3-month cessation on repossessions. Commercial tenants unable to pay will be protected from eviction
Planning rules relaxed allowing pubs and restaurants to act as hot foot takeaways
Business Interruption Loans
Loans of up to £5million (12 months interest-free)
Banks have committed to making £14 billion available to UK businesses
Self Employed Income Support Scheme
The scheme will provide a grant-worth 80% of profits to self-employed individuals up to a cap of £2,500 per month. HMRC will use the average profits from tax returns in 2016 – 17, 2017 – 18 & 2018 – 19 to calculate the grant. Eligible individuals who have not submitted returns for 2019 – 10 will have until 23rd April to file their returns. The scheme will be open for an initial 3 months with people able to make their first claim by June.
Updates from the BID
Business Support Helpline
The Government has a Business Support Helpline: 0300 456 3565 (Monday to Friday, 9 am to 6 pm)
Taking Care of Your Mental Wellbeing During This Time
The outbreak has brought a change to all of our day to day lives and the uncertainty of what the future will bring has led to many feeling anxious, stressed, worried, sad or frustrated. It is however important to remember it is OK to feel this way and that everyone reacts differently. This situation is temporary and, for most of us, these difficult feelings will pass.
The NHS campaign Every Mind Matters have published the following tips for dealing with the ongoing situation. https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
The Mind charity have also publish the following advice for people during the current crisis. https://www.mind.org.uk/information-support/coronavirus/coronavirus-and-your-wellbeing/
The BID will be sharing communication updates on our channels regarding all available help for businesses in the midst of this crisis, including regular updates via our newsletters and social media. If you would like to discuss the help available for your business during this time, please contact: [email protected] or call 01256 331010.
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