Guidance for employees, the self-employed, employers and businesses
The Government has announced a number of measures to support businesses, large and small, and their employees during the COVID-19 outbreak.
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19:
- a Coronavirus Job Retention Scheme
- deferring VAT and Income Tax payments
- a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
- a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
- grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
- the Coronavirus Business Interruption Loan Scheme (CBILS) offering loans of up to £5 million for SMEs through the British Business Bank. View an infographic containing a summary of the CBILS scheme [PDF] or for more information visit the British Business Bank website.
- 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
- the HMRC Time To Pay Scheme
- a new Term Funding Scheme aimed at SMEs
- Covid Corporate Financing Facility for larger firms
For further support for businesses locally, visit D2N2's Growth Hub pages Guidance COVID-19.
Support for businesses with their Covid-19 staffing issues, be it urgent recruitment or the careful management of redundancies, can be provided through the D2N2 LEP and Futures Group and the Redeployment Triage Service.
If you are an employee, the Government advises that you work from home unless it is impossible to do so.
You can find out more about this from the Government's staying at home guidance
As an employee, there is also advice for:
- receiving sick pay due to COVID-19
- Furloughed workers
- Claiming benefits
The Chancellor has unveiled measures to support those who are self-employed during the COVID-19 outbreak.
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.
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 2018-19
- traded in the tax year 2019-20
- are trading when you apply, or would be except for COVID-19
- intend to continue to trade in the tax year 2020-21
- have lost trading/partnership trading profits due to COVID-19
Your self-employed trading profits must also be less than £50,000 and more than half of your income come from self-employment. This is determined by at least one of the following conditions being true:
- having trading profits/partnership trading profits in 2018-19 of less than £50,000 and these profits constitute more than half of your total taxable income
- having average trading profits in 2016-17, 2017-18, and 2018-19 of less than £50,000 and these profits constitute more than half of your average taxable income in the same period
If you started trading between 2016-19, HMRC will only use those years for which you filed a Self-Assessment tax return.
To report concerns about a business which you believe is not following current Coronavirus guidance, please contact the Citizens Advice Consumer Service on 0808 223 1133.
There are currently several teams within Nottinghamshire advising businesses on their obligations and it will depend upon the type of business and the trader's location as to whether your concerns will be dealt with by Nottinghamshire County Council Trading Standards, a district council team or another partner agency. Following your call to the above number, your concerns will be forwarded to the appropriate team.