Please see below for your daily update from Zoo Accounting regarding the Coronavirus.
- Schools across the UK to shut from Friday for all pupils except those who look after children of key staff or the most vulnerable
- Summer exams cancelled, but details not yet released on how this will work for results
- The latest measures from the chancellor are;
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- a Statutory Sick Pay relief package for SMEs
- a 12-month business rates holiday for all retail, hospitality and leisure 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 offering loans of up to £5 million for SMEs through the British Business Bank
- 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
- Here’s the full link to the Gov.website: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
The chancellor will be announcing more details about how the government will be helping financially this afternoon. As soon as details are announced of how any reliefs, grants, etc are obtained we’ll be sending immediate details.
- It’s great to see some meetings coming through on the calendar, please feel free to book yours here: https://calendly.com/wayne-zoo/15min – Please note I missed a couple of appointments yesterday due to how busy we’ve become, please bear with me and I’ll be in touch to re-book an appointment.
- Bank of England has cut base rate interest to 0.1% – the lowest ever level!
Zoo Accounting Daily Tip
Martin Lewis has always been brilliant and helping both businesses and consumers in everyday spending, etc. Take a look at his Financial Help and Rights Section on his website, it’s invaluable! https://www.moneysavingexpert.com/news/2020/03/uk-coronavirus-help-and-your-rights/
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Q&A Section
We’ve had quite a few questions come in, so we thought we would create a Q&A section. Please feel free to email us any questions you have. I will email you back asap…but please bear with me.
Q. I don’t feel there is much support at the moment for self-employed, but I’ve heard about some sort of allowance we can claim?
A. The government has said they will look after the self-employed as well. Here is a link to the Employment & Support Allowance, showing all the details: https://www.gov.uk/employment-support-allowance/how-to-claim. As soon as the other measures are announced, we’ll let you know.
Q. Can you send an updated mortgage list, showing when lenders update how they’ll help?
A. Of course, please see below:
Zoo Accounting