A new temporary Coronavirus Business Interruption Loan Scheme, covering a variety of different products such as loans, overdraft, invoice finance and asset finance, delivered by the British Business Bank, has launched on the 23 March to support primarily small and medium sized businesses to access bank lending and overdrafts. The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value. Businesses can access the first 12 months […]
The UK Government has announced a package of support for the Self Employed impacted by the Coronavirus outbreak, bringing support to the same level as that for employees. The new Self-Employed Income Support Scheme, means those eligible will receive a cash grant worth 80% of their average monthly trading profit over the last three years. This covers 95% of people who receive the majority of their income from self-employment. https://businesswales.gov.wales/support-self-employed For further information on the Self Employment Support Scheme follow this link: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
The Welsh Government’s new regulations now state that all accommodation providers should close and are to remain in force until further notice. Businesses wanting to offer accommodation to key workers must get permission from their Local Authority to do so. https://gov.wales/coronavirus-guidance-holiday-accommodation-businesses?fbclid=IwAR15YFAkuWdysBezDCpOhA9bk4wUnhlQ85yudp1MGDqYiISAC7E8iR3KSM8
HMRC have released further details about how the Coronavirus Job Retention Scheme will work:  ·        The scheme is to avoid employees being made redundant. ·        It only applies to employees that are furloughed (employees on leave of absence). This means the employee must do no work, or generate any income, for the employer. ·        Employers do not have to operate this scheme. Employers can choose to carry on paying their furloughed employees or can choose to make them redundant. If an employee is made redundant the employer may have to pay redundancy and pay-in-lieu of notice. There is no government funding for either of these. In these circumstances it […]
Please keep a note of your meter readings and adjust your direct debits accordingly as you will be using a lot less consumption.
The Covid-19 (Coronavirus) pandemic has caused a sudden, rapid decline in economic activity in recent weeks. The situation has been described by many Agency contacts as being worse than the financial crisis in 2008. Due to fast-moving developments since the outbreak of the virus, this publication focuses on intelligence gathered by the Bank’s Agents during the first few weeks of March. Prior to that point, companies had generally reported some modest improvement in some parts of the economy and the outlook. That is reflected in the Agents’ scores released alongside this publication, which are based on information gathered during January and February. https://www.bankofengland.co.uk/agents-summary/2020/2020-q1
Steam provides the key data for measuring the performance of tourism in North Wales STEAM Wales Summary 2018 STEAM Wales Summary 2018 pdfDownload STEAM Report North Wales 2018 STEAM Report North Wales 2018 xlsxDownload
Please see below a summary of key reliefs and provisions announced so far…. INDIVIDUALS & SELF-EMPLOYED  1.     Universal Credit and other benefits Self-employed may be able to claim Universal Credit if their business has temporarily closed. Universal Credit standard allowance – the amount you’re paid each month – increased by £1,000 a year. The current Universal Credit standard allowance ranges between £251.77 and £498.89 depending on your age and circumstances. You may be able to claim Universal Credit if certain conditions apply.  Self-employed Universal Credit minimum income floor suspended for everyone affected by coronavirus. The Universal Credit minimum income floor applies to those who’ve been self-employed for more […]
This guidance document is designed to provide specific guidance for operators of holiday caravan parks across Wales. Explains what holiday park owners and operators need to do in response to the coronavirus pandemic. https://gov.wales/sites/default/files/publications/2020-03/coronavirus-guidance-for-holiday-park-owners-and-operators_0.pdf
Dear Members, I hope you are well and coping in this difficult situation; the industry has really pulled together and there has been lots of lobbying to elected representatives cross-party to ensure the voice of our industry is heard. The announcements from the UK Chancellor of the Exchequer were extremely positive last week, and I am assured that further assistance will be announced tomorrow for help with the self-employed as many of you may be. I attach a response from Ken Skates, Welsh Government Minister of Economy, regarding his approach to financial solutions to the issues within our industry. There are some direct links on this letter to Welsh Government […]