COVID-19 INFORMATION

 

Whilst health and wellbeing are the priorities for us all right now, concerns about the financial impact of Coronavirus are, understandably, never far away.

Measures designed to combat the spread of the disease have financial consequences for us all. As a result, the Government has introduced a series of measures to help business owners, contractors and self-employed people through this difficult period. Here, we summarise what help is available and how you can access it.

Help for Umbrella workers

Liberty Bishop UK Umbrella employees whose roles have been furloughed as a direct result of Coronavirus can apply to receive payment under the Coronavirus Job Retention Scheme (CJRS).

Our straight-forward application process remains in place and can be found here. However, if we have not been in written communications with you concerning your furlough situation on or before 10th June then we are no longer able to process an application.

If we have been in written communications with you concerning your furlough situation on or before 10th June (for example you have been asked to re-apply once you have received all payments for work performed up to the date your assignment ended due to Covid-19) then you can still submit your application.

The deadline for applications is 15th June 2020.

Whilst the government has recently published guidance regarding the extension of the Coronavirus Job Retention Scheme until the end of October; from the end of July the government will not be providing funding in full and so the Liberty Bishop furlough scheme, along with other umbrella company schemes, will necessarily end at the end of July.

We understand this is a difficult time for people and our team are here to support you in any way we can. If you have any questions please send your query to [email protected]

Please note that the Government’s rules mean that CJRS payments can be made to employees who were on our PAYE payroll and who had been paid by us on or before 19th March 2020. As the job retention scheme has been put in place for those employees that are temporarily unable to work as a result of Coronavirus, you will need to provide details showing that you were on an assignment that was suspended or terminated as a result of Coronavirus.

Public sector organisations that use Umbrella contractors have been issued with guidance from Government that says they can continue to process payments for contractors who are temporarily unable to work as a result of Coronavirus, as opposed to using the job retention scheme.

Summary of additional support available
 

Coronavirus Business Interruption Loan Scheme

Gives SMES access to immediate short-term overdraft or lending from a range of accredited banks and finance companies. Only eligible to UK-based businesses with a turnover of less than £45million and will support loans of up to £5million. Loans over £250k will need a personal guarantee but the Government will contribute 80% against this.

VAT payments deferred

Open to all UK businesses, any payment due for VAT between the period 20th March 2020 and 30th June 2020 can be deferred until 31st March 2021.

Deferment of Self-Assessment payment on account

The second payment on account that would normally be due for payment by 31st July 2020 can be delayed until 31st January 2021.

Business rates holiday

Business rates holidays are available for any business operating in the retail, leisure or hospitality sectors for the whole of the 2020/21 tax year. Rate relief is applied automatically by the local council

Cash grants for retail, hospitality and leisure

Cash grants are available for those businesses that operate in the Retail, Hospitality or Leisure sector. Up to £25,000 is payable per property and £10,000 is available where the rateable value is less than £15,000.

Increase to Universal Credit

Universal Credit has been increased for 12 months to help people on low incomes, or those who have no income as a result of the Coronavirus pandemic.

HOW TO GET STARTED

Choose how you’d like to get in touch, and we will do the rest.

Address:
Liberty Bishop Contractor Services Limited, Suite 1, 2nd Floor, Keynes House, The Priory, Tilehouse Street, Hitchin, Herts, SG5 2DW
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Email us at info@libertybishop.co.uk or give us a call now on 01582 461 444

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