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Coronavirus – more help offered

Reclaiming statutory sick pay 

The Government has stated that they are working with employers over the coming months to set up a repayment mechanism for employers as soon aspossible.  

Under the current rules, SSP is offset against the tax and National Insurance liability, however, as this is likely to be low or possibly zero, it is essential that you as an employer receive this money back.

Business interruption loan schemes 

A loan scheme will be delivered by the British Business Bank which will be launched in a matter of weeks to give businesses access to bank lending and overdrafts.

The Government will support loans of up to £1.2million in value and there will be no charge for this guarantee.

The new guarantee will initially support up to £1billion of lending on top of current support offered through the British Business Bank. The Government are yet to release any details on applications; however, you should keep reviewing our news section for further updates.

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