Build UK have released full guidance on contractual issues to consider. See document here. This has been produced with Wedlake Bell, an independent law firm.
The self employment income support scheme will launch in May 2020. This will give a taxable grant worth 80% of your trading profits to a maximum £2500.
You need to be self employed or a member of a partnership and:
- have submitted your self assessment tax return for tax year 2018-19 (or do so by 23 April 2020)
- traded in the tax year 2019-20
- be trading or would be if not for coronavirus
- intend to continue to trade in the tax year 2020-21
- have lost trading profits due to coronavirus
Full details are available here
You may be able to apply for Universal Credit if your income has reduced or you are not working.
Yes – if you placed employees on leave (“furlough”) you can apply for a grant for 80% of their monthly wage. The scheme launched on 20 April 2020 – you will need to submit claims before the end of each month to ensure payments are made in time as they take 6 working days to process.
Yes. Statutory sick pay (SSP) for coronavirus is payable from the first day of sickness. You can then reclaim this under the Coronavirus Statutory Sick Pay Scheme once the service is available. Ensure you keep full details of payments for once the scheme is open.
This covers up to 2 weeks of sickness, starting from the first day if an employee is unable to work because they either have Coronavirus or cannot work because they are self isolating.
UK VAT registered businesses with a VAT payment due between 20 March 2020 and 30 June 2020 can defer the payment until a later date if they do not want to pay it now.
Yes. Self assessment second payments on account can be delayed until January 2021.
We have produced a good practice guidance with information supplied from Build UK and the Construction Leadership Council. Use this in conjunction with the current Government guidelines.
Businesses with a property that on the 11 March 2020 were eligible for small business rate relief (SBRR) are eligible to apply.