COVID-19

As you may be aware there are a number of government schemes which may be available to you to assist you and your business as we move through the current crisis that has arisen due to Covid-19.

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COVID-19

As you may be aware there are a number of government schemes which may be available to you to assist you and your business as we move through the current crisis that has arisen due to Covid-19.

Whether or not you are eligible for one of these schemes depends on the way you run your business and your usual levels of income or profits. Below is an outline of the latest information with regard to what is currently available.

Sole Traders & Partnerships

For Self Employed individuals, and those who trade through a partnership additional information has now been published with regard to how to make an application for a grant of up to £7,500 depending on your circumstances, through the Self Employment Income Support Scheme, full details regarding the scheme are available here:

www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

You may be eligible to claim under the scheme if:

You can find out if you are eligible to claim the grant using the link below:

www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference

To complete this eligibility check, you’ll need to have your National Insurance number & Self Assessment Unique Taxpayer Reference (UTR) number.

Once it has been confirmed that you are eligible to make a claim you will need your government gateway User ID and password, bank account number and sort code to make the claim.

If you do not have a government gateway ID you will need to set one up, this can be done when checking your eligibility online. Unfortunately we cannot make the claim on your behalf however should you have any queries when going through the application process please do not hesitate to contact us.

Employers – Support in paying the wages of your employees (including company directors)

The government’s Job Retention Scheme is now in operation and details of whether your business and its employees may be eligible is available here:

www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme

Details of how to make the claim as an employer and the information you will need are available here:

www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme#how-to-claim

If you would like our assistance in making a claim under the job retention scheme or need any advice with regard to the HR implications of the calculation of the amounts to which you may be entitled please get in touch via e mail on info@allotts.co.uk

Other help that may be available to you

Various other support is available including the potential deferral of VAT and Self Assessment Income tax payments, business rates relief and a number of grant/loan schemes. Full details of the various options are available here:

www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19#business-support-grant-funds

If you have any queries regarding any of the above or would like our assistance please contact us on info@allotts.co.uk and we will get back to you as soon as possible.