Guidance/Updates for Business

Small Business Grant and the Retail, Hospitality and Leisure Grant

The Small Business Grant Fund and the Retail, Hospitality and Leisure Grant Fund are also available for eligible businesses. Eligibility for these grants are based on receipt of Business Rates relief and rateable values.

CLICK HERE TO APPLY FOR BUSINESS GRANT

 

Speak to a Local Business Advisor

To arrange to speak to a local business adviser call the local Covid-19 helpline 01522 782189 or email businesslincolnshire@lincolnshire.gov.uk  or visit the website https://www.businesslincolnshire.com/

Jobs Presentation

New guidance for businesses and workers on the Coronavirus Job Retention Scheme

New guidance for businesses and workers on the Coronavirus Job Retention Scheme

The Government has today published guidance for businesses and workers on how to access the Coronavirus Job Retention Scheme.

Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis.

This applies to employees who have been asked to stop working, but who are being kept on the pay roll, otherwise described as ‘furloughed workers’. HMRC will reimburse 80% of their wages, up to £2,500 per month. This is to safeguard workers from being made redundant. The Coronavirus Job Retention Scheme will cover the cost of wages backdated to 1 March and is initially open for 3 months, but will be extended if necessary.

Guidance for Employers

Employers will be able to use a portal to claim for 80% of furloughed employees’ (employees on a leave of absence) monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage. We expect the scheme to be up and running by the end of April.

Please use the following link to access the guidance:

www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme

 

Guidance for Employees

The guidance published today will support workers understand whether they are eligible for the scheme, and how much the employer can claim if they are unable to operate or if there is no work due to coronavirus (COVID 19).

Please use the following link to access the guidance:

www.gov.uk/guidance/check-if-you-could-be-covered-by-the-coronavirus-job-retention-scheme

 

HM Support Website Link

A full range of business support measures have been made available to UK businesses and employees – here is the link for more information – https://www.businesssupport.gov.uk/coronavirus-business-support/ 

Business Owners - help is at hand

👉 a Coronavirus Job Retention Scheme
👉 deferring VAT and Income Tax payments
👉 a Statutory Sick Pay relief package for SMEs
👉 a 12-month business rates holiday for all retail, hospitality and leisure businesses in England
👉 small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
👉 grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
👉 the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
👉 a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
👉 the HMRC Time To Pay Scheme

Call for employment support in light of COVID-19

Dear Colleagues

The government has set a clear programme of temporary and targeted financial support to help businesses thorough this period of disruption caused by COVID-19.

Boston Borough Council, along with our partners Department of Work and Pensions (DWP) and the Fresh Produce Network (FPN) would like to set up an emergency COVID-19 Rapid Response to Redundancy for our residents who find themselves in the very unfortunate position of facing redundancy either permanently or a short term break in employment during these unprecedented times.

To that end, we are putting a call out to local businesses who are in a position to offer full or temporary employment opportunities, short term or longer to give those affected an opportunity of employment in what we know as a very difficult and challenging time.

Please contact either myself, Pippa Rose or Stuart Roberts if you can support this call for employment support.

Clive Gibbon
Boston Borough Council | Municipal Buildings | West Street | Boston | Lincolnshire | PE21 8QR | www.mybostonuk.com | 01205 314429 | 07767 643712

Pippa Rose
Boston Borough Council | Municipal Buildings | West Street | Boston | Lincolnshire | PE21 8QR | www.mybostonuk.com | 01205 314228

Stuart Roberts
Boston Jobcentre Plus Municipal Buildings | West Street| Boston | Lincolnshire | PE21 8QR | 01205 441023| ext 3023| www.dwp.gov.uk

 Best wishes

Clive Gibbon
Economic Devevelopment Manager

Business Interruption Loan Scheme

The Chancellor has announced that the British Business Bank will manage the Coronavirus Business Interruption Loan Scheme (CBILS) which will become available week commencing the 23 March 2020.  It will be delivered through a range of over 40 accredited lenders and offer attractive terms for both businesses applying for new facilities and lenders, with the aim of supporting the continued provision of finance to UK businesses experiencing increased costs or disruptions to cashflow during the Covid-19 outbreak.

The CBILS provides the lender with a government-backed guarantee against the outstanding facility balance, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’. 

In short, the Government will cover the first twelve months of interest payments and any facility arrangement fees charged by lenders, so businesses will benefit from no upfront costs and lower initial repayments.

The maximum value of a facility provided under the scheme will be £5m. Note that the borrower always remains 100% liable for the debt.  To find out more about the CBILS and to share information with the various SMEs you work with, please go to: www.british-business-bank.co.uk/CBILS

Any business interested in applying to CBILS should talk to their bank or finance provider (NOT the British Business Bank) as soon as possible and discuss their business plan with them. This will help the finance provider to act quickly once the Scheme has launched.

You will now know that in addition to the Coronavirus Business Interruption Loan Scheme the government has announced a series of other measures to help businesses. For more information on the full support to business, please visit the government’s Covid-19 business support website here.