Help for sole traders
- A temporary Coronavirus Business Interruption Loan Scheme will allow banks to offer loans to support small and medium sized businesses. The Government will cover the first six months of interest payments.
- If you run a business with fewer than 250 people, costs for up to 14 days of Statutory Sick Pay will be refunded for employees who have been off work because of coronavirus.
- Call the HMRC Coronavirus Helpline on 0800 015 9559 if you cannot pay your tax bill on time because of coronavirus. You may also be able to use HMRC’s Time to Pay service.
- Business rates will be scrapped for 12 months from 1 April 2020 in England for retail, leisure and hospitality businesses. Contact your local authority to find out if you qualify.
- A £10,000 grant will be given to the smallest businesses in England. These businesses will be ones currently eligible for small business rates relief or rural rate relief. Contact your local authority for more information.
- A grant of up to £25,000 will be given to retail, hospitality and leisure businesses that operate from smaller premises in England that have a rateable value of between £15,000 and £51,000. Speak to your local authority.
- The Coronavirus Job Retention Scheme will be available to all UK businesses. Once the scheme is running, HMRC will repay 80% of selected employees’ wages up to a maximum amount of £2,500 per month. To get this, you will need to apply online.
- Business are also being given longer to make some VAT payments, and sole traders are being given longer to pay self-assessed income tax
If you are not eligible for any of this assistance then you would need to look at Universal Credit or ESA for income, let me know if you need information on these.
Help for sole traders - A temporary Coronavirus Business Interruption Loan Scheme will allow banks to offer loans to support small and medium sized businesses. The Government will cover the first six months of interest payments. - If you run a business with fewer than 250 people, costs for up to 14 days of Statutory Sick Pay will be refunded for employees who have been off work because of coronavirus. - Call the HMRC Coronavirus Helpline on 0800 015 9559 if you cannot pay your tax bill on time because of coronavirus. You may also be able to use HMRC’s Time to Pay service. - Business rates will be scrapped for 12 months from 1 April 2020 in England for retail, leisure and hospitality businesses. Contact your local authority to find out if you qualify. - A £10,000 grant will be given to the smallest businesses in England. These businesses will be ones currently eligible for small business rates relief or rural rate relief. Contact your local authority for more information. - A grant of up to £25,000 will be given to retail, hospitality and leisure businesses that operate from smaller premises in England that have a rateable value of between £15,000 and £51,000. Speak to your local authority. - The Coronavirus Job Retention Scheme will be available to all UK businesses. Once the scheme is running, HMRC will repay 80% of selected employees’ wages up to a maximum amount of £2,500 per month. To get this, you will need to apply online. - Business are also being given longer to make some VAT payments, and sole traders are being given longer to pay self-assessed income tax
If you are not eligible for any of this assistance then you would need to look at Universal Credit or ESA for income, let me know if you need information on these.
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19