The new Coronavirus Large Business Interruption Loan Scheme (CLBILS) will provide a government guarantee of 80% to enable banks to make loans of up to £25m to firms with an annual turnover of between £45m and £500m.The Bank of England COVID-19 Corporate Financing Facility is designed to support liquidity among larger firms, helping them to bridge coronavirus disruption to their cash flows through the purchase of short-term debt in the form of commercial paper.
Coronavirus Job Retention furloughing claim portal is open today. If businesses want to receive payment by 30th April you have to submit a claim before Wednesday. https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme
The eligibility cut-off date for the Coronavirus Job Retention Scheme (Furlough scheme) has been extended from 28 February to 19 March. Employers are now able to claim for furloughed employees that were employed and on their PAYE payroll on or before 19 March 2020. This means that the employee must have been notified to HMRC through a Real Time Information (RTI) submission on or before 19 March 2020. The scheme is due to be fully operational next week. If you made employees redundant, or they stopped working for you on or after 28 February 2020, you can re-employ them, put them on furlough and claim for their wages through the […]
The All-Party Parliamentary Group for Hospitality and Tourism is today launching ‘Pathways to Recovery,’ our urgent inquiry into the measures that businesses in these two vital sectors of the UK’s economy will need in order to successfully reopen, recover and thrive in the aftermath of the COVID-19 crisis. The key focus of this inquiry will be assessing what is needed to get businesses in these sectors back on their feet at the appropriate time, providing forward-looking recommendations to guide Government and businesses as they move to thinking about recovery. The consultation questions will look broadly at what support measures businesses would like to see from Government, while also looking at […]
The survey looked to find out how the tourism industry was performing, and learn how the COVID-19 virus was impacting on businesses. https://gov.wales/tourism-barometer-coronavirus-covid-19-impact-survey-wave-2-2020?fbclid=IwAR2oMf_edBP20k_zMnf45vM0oyEe16PXRYn5ZdhJS8us4zT3p1tBonpSMEI
Further details about support from the Welsh Government’s new £500m Economic Resilience Fund has been published today. To be eligible for this phase of support, businesses, charities and social enterprises, must meet criteria including: Micro businesses, including start-ups, employing up to nine employees could be eligible for up to £10k support. This includes sole traders employing staff. Businesses in this bracket could qualify for support from the fund if they: – Have experienced in excess of a 40% reduction in turnover since 1 March 2020;– Can demonstrate that efforts have been made to sustain business activity;– Are not pursuing other forms of Welsh Government non-repayable grant funding support;– Are not […]
Where can businesses get help and advice? Business Waleshttps://businesswales.gov.wales/ 03000 603000The Development Bank of Wales https://developmentbank.wales/ 0800 587 4140The Welsh Revenue Authority https://gov.wales/welsh-revenue-authority or 03000 254 000 for queries related to Welsh taxesHMRC Coronavirus Helpline 0800 015 9559
This HMRC advice page helps you find out if you’re eligible and how much you can claim to cover wages for employees on temporary leave (‘furlough’) due to Coronavirus (COVID-19). https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Furlough Letter Template ACAS have produced a free-to-download template for employers to use to confirm that there is an agreement to temporarily furlough a worker or employee. https://www.acas.org.uk/furlough-letter-template
The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak. CBILS has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even more smaller businesses across the UK impacted by the coronavirus crisis can access the funding they need. Importantly, access to the scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. Insufficient security is no longer a condition to access […]
During this time of uncertainty amid the COVID-19 pandemic, we’ve been working closely with the industry and our partners. As part of this, we’ve been working with Online Travel Agencies (OTA’s) to support postponement, rather than cancellation of bookings, Booking.com Booking.com has announced the following temporary changes to help businesses manage date modifications from visitors: There is now the option for businesses to process date modification for guests on upcoming stays, without a requirement to contact the Booking.com customer support team. When a date change has been made, on request of your guests, they’ll then receive a confirmation email detailing these changes. Policy details for all modified reservations will remain the same. […]