Corona Business Finance Update – 20th March 2020

by | Mar 20, 2020 | Corona Business Support | 0 comments

Today the Government ramped up its economic package to help business.

The measures announced today include:

Govt will, via grants, fund up to 80% of employees wages up to £2,500 a month

The Govt wage subsidy will apply from 1st March and apply to staff already laid off and will last for 3 months.

Payments for the current VAT period are being differed.

The Business Interruption Loan Scheme has extended the interest free period to 12 months Sole Traders can get Universal Credit to the same level as SSP

Universal Credit allowance increases £1,000 a year

Next tax self assessments will be deferred until the start of next year (January 2021)

There’s some hefty measures announced, obviously the measures are aimed at the hospitality industry but there’s something for everyone and it’s already been announced that there’s more measures to come.

Carl Ford

The UK’s No.#1 Sports, Health & Wellbeing Accountant

The Time Lord Accountant – Saving you time AND money

The Creative Tax Expert – Make sure you pay the correct, legal amount of tax

Carl is offering tailored business support calls, 45 minutes long to help support businesses through this stressful time. He’ll help you find tailored financial business solutions to ensure your business stays fit and healthy through the Covid-19 business crisis.

Get your discounted Corona Business Support Appointment here <<CLICK>>