Tag Archive for Coronavirus

Hot Business News Today

Where to get your small business Restart Grant worth up to £18,000

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Originally written by Anna Jordan on Small Business
The Government recently announced a Restart Grant for small businesses in England, launching this April.
What is the Restart Grant?
The Restart Grant is a new fund for business owners, helping them through what is hoped will be the final stages of Covid-19 restrictions.
It will replace the monthly Local Restrictions Support Grant (Closed) and Local Restrictions Support Grant (Open) – these will both close at the end of March.
Around 700,000 businesses in England will be eligible for the grant.
Commenting on the Restart Grant, Institute of Directors director general Jonathan Geldart said: “Restart grants and ongoing business rates relief give a cashflow boost to many firms that will struggle to make full productive use of their properties as restrictions linger.”
Mike Cherry, chairman of the Federation of Small Businesses, said it was key that the very smallest businesses get hold of their Restart Grants.
How much will I get?
Non-essential retail will receive up to £6,000 per premises. Gyms, leisure, personal care, accommodation and hospitality businesses will receive up to £18,000.
The sum you’ll receive is based on your rateable value.

If your rateable value is £15,000 or less, you can claim up to £8,000
If it’s between £15,000 and £51,000, you

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Covid-19 roadmap – when can I reopen my small business in Wales?

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Originally written by Anna Jordan on Small Business
Mark Drakeford, the first minister of Wales, has announced the country’s first steps out of lockdown, including dates when some businesses could reopen.
As with England and Scotland’s roadmaps, reopening of schools takes priority. But unlike the others, Mark Drakeford has created a plan based on dates rather than numbered stages. That said, case numbers will have to stay low and certain conditions will need to be met in order to ease restrictions.
Here’s the current plan.
From March 13

The ‘stay home’ message will change to ‘stay local’. This means that people can travel in their local area – that’s usually within five miles
Outdoor sports facilities reopen including tennis courts, golf courses and bowling greens

From March 15

Hairdressers and barbers reopen to cut hair by appointment only

From March 22

Non-essential aisles in supermarkets reopen
Garden centres reopen

From March 27 (if review conditions are met)

Self-contained accommodation reopens for one household
‘Stay local’ guidance lifted and tourism reopens. This will allow people to travel within Wales

From April 12 (dependent on April 1 review)

All close contact services reopen
All non-essential retail reopens

No mention has been made for other sectors such as hospitality and theatres.
Will I get funding if my business has to

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Hot Business News Today

Where to get your small business Restart Grant worth up to £18,000

by  •  • 0 Comments

Originally written by Anna Jordan on Small Business
The Government recently announced a Restart Grant for small businesses in England, launching this April.
What is the Restart Grant?
The Restart Grant is a new fund for business owners, helping them through what is hoped will be the final stages of Covid-19 restrictions.
It will replace the monthly Local Restrictions Support Grant (Closed) and Local Restrictions Support Grant (Open) – these will both close at the end of March.
Around 700,000 businesses in England will be eligible for the grant.
Commenting on the Restart Grant, Institute of Directors director general Jonathan Geldart said: “Restart grants and ongoing business rates relief give a cashflow boost to many firms that will struggle to make full productive use of their properties as restrictions linger.”
Mike Cherry, chairman of the Federation of Small Businesses, said it was key that the very smallest businesses get hold of their Restart Grants.
How much will I get?
Non-essential retail will receive up to £6,000 per premises. Gyms, leisure, personal care, accommodation and hospitality businesses will receive up to £18,000.
The sum you’ll receive is based on your rateable value.

If your rateable value is £15,000 or less, you can claim up to £8,000
If it’s between £15,000 and £51,000, you

Read more...

Hot Business News Today

Recovery Loan Scheme up to £10m will replace CBILS and BBLS

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Originally written by Anna Jordan on Small Business
Rishi Sunak has announced the Recovery Loan Scheme to take the place of the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme.
UK businesses of any size can apply for a loan or overdraft between £25,000 and £10m until the end of 2021. Asset and invoice finance between £1,000 and £10m will also be available. All will have a Government guarantee of 80 per cent.
Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance, terms will be up to three years.
No personal guarantees will be taken on facilities up to £250,000 and, as before, a borrower’s principal private residence cannot be taken as security.
The Recovery Loan Scheme opens April 6 and will run until December 31, subject to review. Like CBILS and the Bounce Back Loans, these will be available through a network of accredited lenders, whose names will be made public in the near future. Details on how to apply will be revealed in the coming weeks.
Once you receive it, the finance can be used for any legitimate business purpose, including growth and investment.
Sunak said: “Even with the new Restart

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Hot Business News Today

Recovery Loan Scheme up to £10m will replace CBILS and BBLs

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Originally written by Anna Jordan on Small Business
Rishi Sunak has announced the Recovery Loan Scheme to take the place of the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme.
UK businesses of any size can apply for a loan between £25,000 and £10m until the end of 2021. Loans will have a Government guarantee of 80 per cent. Asset and invoice finance between £1,000 and £10m will also be available.
Once you receive it, the finance can be used for any legitimate business purpose, including growth and investment.
The Recovery Loan Scheme opens April 6 and will run until December 31, subject to review. Like CBILS and the Bounce Back Loans, these will be available through a network of accredited lenders, whose names will be made public in the near future.
Sunak said: “Even with the new Restart Grants, some businesses will also need loans to see them through. As the Bounce Back Loans and Business Interruption Loan schemes come to an end, we’re introducing a new Recovery Loans Scheme to take their place.”
The CBILS and bounce back loan schemes will end on March 31 2021 as previously planned. They were introduced last year to help struggling businesses through difficulties

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How do I manage an employee with Long Covid?

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Originally written by Anna Jordan on Small Business
One of the many consequences of Covid-19 is its persistent relative, Long Covid.
Though a relatively new condition, it’s affecting a number of people who are suffering the aftermath of having the virus.
Figures from the ONS last year reveal that one in five people diagnosed with Covid-19 were experiencing symptoms that last for five weeks or longer. One in ten had symptoms that lasted 12 weeks or longer.
In September, Public Health England also published guidance around the long-term health effects of Covid-19. It highlighted that around ten per cent of those with mild coronavirus who weren’t admitted to hospital have reported symptoms lasting more than four weeks. A number of hospitalised cases reported continuing symptoms for eight weeks or more after discharge.
With Long Covid patients reporting that they can’t do what they used to – and many of them being of working age – this could pose challenges for employers.
We’re going to take a look at the effects of Long Covid and how you as an employer can better manage employees who have the condition.
What is Long Covid?
Long Covid (also known as post Covid-19 Syndrome) follows on from having Covid-19. It can bring wide-ranging

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Small business should get HMRC refund to cover Covid losses, say MPs

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Originally written by Timothy Adler on Small Business
Small business and the self-employed should get a tax refund to cover their Covid losses, an influential Treasury select committee has recommended.
Under a “loss carry-back” scheme, any business, whether it’s a limited company or a sole trader, would get a cheque back from HMRC reimbursing them for Covid losses, providing they paid tax in Britain for three years before the pandemic.
A similar policy was adopted during economic crises in 1991 and 2008.
>See also: Restart Grant for your small business – what is it and where to claim
The Government should also look favourably on a further extension of the Annual Investment Allowance – which provides tax relief for expenditure on most plant and machinery – and possibly keep it permanent at the current level.
In its Tax After Coronavirus report, the select committee says that now is not the time for tax rises or clawing money back post pandemic. That said, significant fiscal measures, including revenue raising, will possibly be needed in the future, MPs said.
A moderate increase in corporation tax could raise revenue without damaging growth, the committee agreed.
Rishi Sunak is reportedly going to announce a stepped increase in corporation tax from 19 per

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