CORONAVIRUS UPDATE
Let’s recap the main points from the UK Government news conference held last night;
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Chancellor Rishi Sunak says the government will step in to help pay people’s wages through a coronavirus job retention scheme.
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This scheme allows businesses to apply for a grant of up to £2,500 a month to cover 80% of salary for those retained but not working
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He also says VAT for all businesses is being deferred until the end of June
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The business loan scheme will now be interest free for 12 months
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Universal Credit allowance increases £1,000 a year
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The next tax self assessments will be deferred until the start of next year
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He also announces the self-employed will get full Universal Credit at a rate equivalent to statutory sick pay
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A further £1bn to cover 30% of house rental costs
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Cafes, pubs, bars and restaurants across the UK had been told to close last night and not to reopen – although they can offer takeaway services
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Nightclubs, theatres, cinemas and gyms have also been told to shut their doors
If you are concerned about how Covid-19 will affect you and your business, please give us a call on 020 8647 0297.
Although the MDH team are now working from home, we are still here to support you with whatever concerns you may have.
We have prepared information sheets detailing the different packages and schemes the Chancellor has set out, the eligibility of these schemes, and how to get access.
If you would like these information sheets, please email natalie@mdh.me.uk, and we will send these over to you
