Open for Business; building our recovery #1 Key business support amendments and important guidance

New Government Covid-19 health and safety guidance Please see the link below where critical new work-place safety guidance has been issued by the Government to accompany the relaxation of Covid-19 containment measures announced by the Prime Minister on May tenth. The Department for Business Energy and Industrial Strategy (BEIS) has requested it be distributed to the print industry immediately and to please share it as widely as possible

Protection from aggressive rent collection

In other welcome news, High street-based businesses under strain will be protected from aggressive rent collection. The government will temporarily ban the use of statutory demands (made between 1 March 2020 and 30 June 2020) and winding up petitions presented from Monday 27 April, through to 30 June, where a company cannot pay its bills due to coronavirus. Under these measures, any winding-up petition that claims that the company is unable to pay its debts must first be reviewed by the court to determine why. The law will not permit petitions to be presented, or winding-up orders made, where the company’s inability to pay is the result of COVID-19. The new legislation to protect tenants will be in force until 30 June, and can be extended in line with the moratorium on commercial lease forfeiture. 

Self-employment Income Support Scheme Eligibility Tool

Next, due to a large amount of public and professional debate surrounding eligibility for the Self-employment Income Support Scheme, the Government has launched a new checking tool, which you can access via this link, that utilises your Self-assessment Unique Taxpayer Reference and National Insurance Number to assess whether you qualify for the scheme or not definitively.

Chancellor extends furlough scheme until October

In a boost to millions of jobs and businesses, Rishi Sunak said the furlough scheme would be extended by a further four months with workers continuing to receive 80% of their current salary.The scheme will continue in its current form until the end of July and the changes to allow more flexibility will come in from the start of August. More specific details and information around its implementation will be made available by the end of this month.

Prime Minister’s Speech – the projected impact on print

The Prime Minister’s speech on Sunday March 10^th has squarely divided opinion. But what’s for certain is that there were two key parts of his statement which can give print a modicum of hope that demand will start flowing again post July 1^st:The first is: “We now need to stress that anyone who can’t work from home, for instance those in construction or manufacturing, should be actively encouraged to go to work.” And the second: “At the earliest by July – and subject to all these conditions and further scientific advice; if and only if the numbers support it, we will hope to re-open at least some of the hospitality industry and other public places, provided they are safe and enforce social distancing.”With the rest of the manufacturing and product processing sectors now being actively encouraged to return to work that means we should start to see an increased flow of work returning on this front, while being ready and primed for the week of July 1^st will be key to accommodate demand for everything from promotional flyers through to menu’s and leisure deal brochures.

 Business Grant Scheme Expansion for those without rateable property value

More than 10,000 small businesses with less than 50 staff originally missed out on government grants to mitigate the impact of the coronavirus lockdown because they are based in shared offices.The government has now addressed this and pledged a further £617m in grants to small businesses in shared spaces, regular market traders, and small charity properties that would meet the criteria for Small Business Rates Relief. There will be three levels of grant payments, the maximum being £25,000 and local authorities will have discretion to make payments of any amount under £10,000.

Grants & Apprenticeships Government Guides Publication

There has been a significant number of important amendments made to existing Covid-19 Business Support measures, and as such there are two very good guides that have been published by the Government.The first is Guidance for local authorities setting out details of the Small Business Grants Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF). And please note that there has been updated tax advice for those eligible for these schemes. The other key guide is for apprentices, employers, training providers and assessment organisations about changes to apprenticeships due to coronavirus (COVID-19)

Tax Credit implications of Job Retention and Self-employed Support schemes

Now another key update you can find the details of below is that the government has confirmed that people who can’t work their normal hours because of coronavirus (COVID-19) will still receive their usual tax credits payments. Those working reduced hours due to coronavirus or those being furloughed by their employer will not have their tax credits payments affected if they are still employed or self-employed. These customers do not need to contact HMRC about this change. It will treat you as working your normal hours until the Job Retention Scheme and Self-Employment Income Support Scheme close, even if they are not using either scheme.

Bounce Back Loan Scheme roll-out and eligibility criteria

In massively welcome news for many high-street print business small businesses and small suppliers, it was announced they will benefit from the fast-track Bounce Back Loan scheme providing up to £50,000 in finance with a 100% government-backed guarantee for lenders. You pay no fees and interest for the first 12 months and there are no repayments will be due during the first 12 months. If you have not yet researched this scheme, then we would urge you to do so via this link and we can provide you with feedback that our members are finding it easy to apply and receive finance from the scheme. It is also worth your time to read the letter that Chancellor Rishi Sunak wrote to lenders that provides added clarity around the scheme and its roll out.

Parental leave implications regards Job Retention Scheme

Finally, furloughed workers planning to take paid parental or adoption leave will be entitled to pay based on their usual earnings rather than a furloughed pay rate.

The changes will ensure those intending to take time off following the birth, adoption, or death of a child will not see their entitlement to pay affected as a result of being furloughed in the wake of the impacts of COVID-19.