- UK Government has had to promise to pay the wages of private businesses that are in trouble as a result of the Coronavirus
- Any employer will be eligible to ask HMRC to pay most of the wages for those not working but stood down by companies
- This amounts up to 80% of the salaries up to £2,500 a month.
- This is backdated to wages paid as far back as March 1st
- Self-employed people can now claim Universal Credit at the same rate as statutory sick pay £98.00 per week (SSP should have been increased)
- Self-employed/sole trader self-assessment payments will be delayed by a year. Note – this is not enough, see below.
- All pubs and nightclubs are ordered to close (although restaurants can still do takeaway)
- The business interruption loan scheme will be available from Monday onwards and they will be interest-free for 12 months.
- Next VAT bills will be deferred for almost a year – we hope they are going to process VAT rebate claims though as companies who have just invested in new plant and equipment may be claiming VAT back not paying it.
- Universal credit is increasing by £1,000
- Housing Benefit will also rise significantly for renters
Published by New Scotland
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