20 MARCH UPDATE: ADDITIONAL COVID-19 SUPPORT MEASURES ANNOUNCED BY GOVERNMENT
We recognise the challenges faced by business during this period and this is the latest information about the support that is available,
The Government announced a new Expanded Retail Discount scheme for retail, leisure and hospitality premises in response to COVID-19. Under the scheme, eligible premises will receive a discount of up to 100% on their bill for 2020/21.
For information on eligibility please visit Invest in Bath’s Information on Retail Discount pages.
Government has also announced further business support measures which include a job retention scheme, new tax deferments and relaxation of Universal Credit eligibility criteria for those that are self employed. You can find further information further down this news update.
We are co-ordinating the Council's support services to local businesses in light of the COVID19 public health situation. We will be sharing further information about targeted business support and financial assistance that is available as and when further schemes are announced. If you do have specific concerns, questions or needs at this time please contact us on email@example.com and the team will respond directly. Alternatively visit www.investinbath.co.uk/covid19 for the latest news as well as our Twitter and Newsletter.
You can also read the full government documents in response to the impact of COVID 19 on businesses.
Coronavirus Job Retention Scheme
All UK employers will be able to continue paying up to 80% of staff salaries those employees that would otherwise have been laid off during this crisis. This is caped at £2,500 per month. More information to follow.
The Self Employed
If you are not eligible for Statutory Sick Pay, you can now more easily make a claim for Universal Credit (UC) or new style Employment and Support Allowance. For more information on how to claim, please follow this link
Valued Added Tax (VAT) payments will be deferred for 3 months from the 20th March 2020 until 30th June 2020.
Deferring Income Tax payments
If you’re self-employed, Income Tax payments due by 31st July 2020 under the Self-Assessment system will be deferred to 31st January 2021.
For all information and services relating to Tax please follow this link to the HRMC COVID support service.
Time to Pay service
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. Please follow this link