Monthly Archives: March 2020

Can You Spot the Differences on the Revamped 2020 Form W-4?

by Mike Kappel • March 12, 2020 • 0 Comments

Withholding allowances are absent on the new version of Form W-4.

Coronavirus: Best Practices for Working From Home, According to a Six-Figure Social Media Entrepreneur

by Natalie Zfat • March 12, 2020 • 0 Comments

As businesses shift to remote working setups, here are top tips for staying productive and connected.

Coronavirus government statutory sick pay – how to apply for it

by Timothy Adler • March 12, 2020 • 0 Comments

Originally written by Timothy Adler on Small Business
Coronavirus government statutory sick pay – and how to apply for it
The government will meet the cost of coronavirus statutory sick pay (SSP) for small businesses with up to 250 employees for 14 days, providing over £2 billion for up to two million businesses.
SSP will now be available for eligible individuals diagnosed with coronavirus or those who are unable to work because they are self-isolating in line with government advice.
The weekly allowance for SSP will increase from £94.25 to £95.85 on 6 April.
>See also: Budget 2020 what it means for small business – analysis and live blog
This is in addition to the change announced by prime minister Boris Johnson that SSP will be payable from day one instead of day four for affected individuals.

People who are advised to self-isolate for coronavirus will soon be able to obtain an alternative to the fit note to cover this by contacting NHS 111, rather than visiting a doctor. This can be used by employees where their employers require evidence.

Coronavirus help for self-employed

For the self-employed not eligible for SSP, contributory Employment and Support Allowance will be payable, at a rate of £73.10 a week if you are

Hot Business News Today

How do I apply for a Coronavirus Business Interruption Loan?

by Timothy Adler • March 12, 2020 • 0 Comments

Originally written by Timothy Adler on Small Business
How do I apply for a Coronavirus Business Interruption Loan?
The government has announced a new temporary Coronavirus Business Interruption Loan scheme, as part of a package of measures to help small business.
British Business Bank will deliver the loan scheme, which will launch within the next few weeks to support SMEs to access bank lending and overdrafts.
The government will provide lenders with a guarantee of 80 per cent of each loan – subject to a per-lender cap on the number of bad loans it can claim for.
>See also: Coronavirus government statutory sick pay – how to apply for it
The scheme will support loans of up to £1.2m per small business. This new guarantee, which replaces the existing Enterprise Finance Guarantee (EFG), will initially support up to £1bn of lending.
Like the EFG, the idea is to give lenders more confidence in approving credit decisions for small businesses that have insufficient security to meet the lender’s normal requirements.
However, the Coronavirus Business Interruption Loan will offer more attractive terms for both small business and lenders than the EFG.
Lenders will not charge small businesses or banks for this guarantee.
However, the small business borrower will always remain 100-per-cent liable

Hot Business News Today

How do I get the government £3,000 coronavirus grant?

by Timothy Adler • March 12, 2020 • 0 Comments

Originally written by Timothy Adler on Small Business
How do I get the government £3,000 coronavirus grant?
The government has announced small businesses that already pay little or no business rates will be eligible for a one-off coronavirus grant worth up to £3,000.
For a commercial property with a rateable value of £12,000, this is one quarter of its rateable value, or comparable to three months of rent.
>See also: How do I apply for a Coronavirus Business Interruption Loan?
Around 700,000 businesses in England currently eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief can apply for the emergency funding.
The additional £2.2bn of funding for local authorities is part of a package of fiscal measures to help small business survive the coronavirus pandemic.
However, the £3,000 coronavirus grant only applies to small business in England. Business rates in Scotland, Wales and Northern Ireland are set by their devolved administrations.
This comes on top of the government announcing in the 11 March Budget that companies in the retail, leisure and hospitality sectors with a rateable value of less than £51,000 will not pay any business rates this year.
The discount that pubs receive on their business rates will increase from £1,000 to £5,000.
The government will also

Hot Business News Today

Should You Offer Student Loan Repayment to Employees?

by Successful IBO • March 12, 2020 • 0 Comments

Employee perks are a great way to attract and retain exceptional employees. Would offering student loan repayment give your business a significant leg up on the competition?