Summary of Useful websites

A full range of business support measures have been made available to UK businesses and employees, including: Coronavirus Business Interruption Loan SchemeBusiness Rates Holiday for Retail, Hospitality and LeisureStatutory Sick Pay SupportTime to PayCOVID-19 Corporate Financing FacilityVAT DeferralIncome Tax Deferral for the Self-EmployedCoronavirus Job Retention Scheme Government Support to Businesses On 20th March, HM Treasury announced a further series of measures to support people, jobs and businesses. This includes a Coronavirus Job Retention Scheme which will allow employers to continue paying up to 80% of furloughed workers pay costs to a maximum of £2,500 per month and deferring VAT and Income Tax payments. All UK businesses, including those in Wales […]

Government Support to Businesses

On 20th March, HM Treasury announced a further series of measures to support people, jobs and businesses. This includes a Coronavirus Job Retention Scheme which will help pay people’s wages and deferring VAT and Income Tax payments. All UK businesses, including those in Wales are eligible for these two new strands of support which are being administered through HMRC.   Further guidance on what you need to do is available on the following website:  https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses   The HMRC also has a Coronavirus helpline for businesses and self-employed people and is available on 0800 0159 559. Note that the HMRC is working urgently to set up the system. Existing HMRC systems […]

Latest update from Government daily briefing

A brief update from the latest Government daily briefing. bars, cafes, restaurants are to close after tonight but you will still able to offer takeaway.Theatres, leisure centres, cinemas and gyms also to close.Government to provide grants of up to 80% of wages to businesses to retain staff (up to £2,500 a month) via HMRC. The employer will need to apply for this.VAT payments deferred for this quarter.No self assessment payments for self employed due until January 2021.Self employed will also have access to the same statutory sick pay as employees.Business Interruption loan repayment with no interest extended from 6 months to 12 monthsUniversal credit to increase by £1000 over 12 […]

Corona Virus Contingency

Message from Nicky Williamson, Proprietor of the West Arms, Llanarmon DC and Director of North Wales Tourism. I have put this together based on previous and current experiences – it is intended as a practical list that we can almost use as a checklist, intended for small businesses but the principles apply for larger ones and it is in no way official, just my thoughts and ideas from one hotel to another. Please bear in mind that at times like these reactions are different and some of us are almost paralysed by the fear and overwhelm. For others, this checklist will be so obvious it’s almost patronising (- that is […]

Tackling the Covid-19 crisis

We are a small business with two properties, a restaurant-with-rooms in Ruthin accommodating 16 people and a B&B in Llangollen accommodating 22 people, both called manorhaus. We’ve been in business 18 years and have the seen the inevitable ups and downs of running a business in the hospitality industry in beautiful North Wales! What should be the start of what looked likely to be a busy year for both properties started rather sluggishly, but we were confident that the year ahead would be a successful, rewarding and profitable one. The impact of the challenges surrounding the Covid-19 virus upon our business has been rapid, hard-hitting and turbulent; we made it […]

Development Bank of Wales

As the situation with Coronavirus is developing, we want to reassure our customers that we are here to help. We are very aware of the pressures that small businesses are currently facing and have put in place business continuity measures to ensure our portfolio teams are available and can continue to support you.  We are also able to offer the following to help limit and manage the commercial impact of Covid-19: A 3-month capital and monitoring fee repayment holiday for all customers on request We realise that cashflow management may be a key concern and this arrangement will remain in place until 30th June 2020.  Further information can be found on our […]