Covid-19 Update

The government has announced a number of ways to support the public during these difficult times. Information on the support available has been summarised below:

1. Jobs & Wages - The government will contribute towards wages in the Coronavirus job retention scheme. HMRC will issue a grant to cover 80% of wages (up to £2,500). This is back dated to 1st March 2020 and initially it will be available for three months. HMRC are aiming to have this in place and start making payments by April 2020.
2. Business interruption loans will be available; these loans are interest free up to 12 months.
3. VAT payments have been postponed, however the VAT returns still need to be filed (if you have set up a direct debit with HMRC, its worth considering to cancel the direct debit in case HMRC still take the funds from your business account).
4. Renters will be able to access housing benefits up to 30% of the market rate rent in their area.
5. July self-assessment payments are postponed to January 2021.
6. Self-employed or Freelance individuals - previously it was said that they should be able to claim SSP or Universal credit however they could receive 80% of their monthly net earnings, averaged over the last three years or support up to £2,500 whichever is lower.
7. Lenders have been asked to give breaks on mortgage payments for the next three months (you need to contact your lender)
8. Some local authorities are providing a discount on council tax bills, this is depending on your income (Please visit your local authorities website for more information on this)

We aim to provide the maximum support possible to all of our clients during these difficult times and hope you all remain safe.

If you have any questions please don't hesitate to contact us on [email protected]