| Coronavirus Business Support Information and Guidance April 2020 |
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| Information as at 8 April 2020; please review website for evolving information |
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Amber Valley Borough Council appreciate that the current situation is likely to be of the greatest concern to businesses and we are very aware of the challenges this has created.
We want to reassure you that we are still operational and happy to help with business support enquiries.
You will find up to date information on the council's website and if you have not done so already, we urge you to subscribe to our mailing list so we can share business relevant information with you:click here
The Treasury and government are taking measures to protect the public and support businesses and are rolling out support mechanisms for businesses, employers and people who are self-employed, all of which are detailed in this mailshot
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| CLAIM THE GOVERNMENT BUSINESS GRANT: NOW OPEN FOR APPLICATION |
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The Small Business Grant Fund and Retail, Hospitality and Leisure Grant Fund is now open.
You should apply for this grant if you run a small business within Amber Valley and have a business premises that meets one of the following criteria:
1. Small Business Grant Funding: £10,000 grant for properties with a rateable value of up to £15,000 that are in receipt of Small Business Rate Relief or Rural Rate Relief
2. Retail, Hospitality and Leisure Grant Funding: £10,000 grant to eligible properties with a rateable value up to £15,000, or a £25,000 grant to eligible properties that have a rateable value of over £15,000 and less than £51,000
Note: only one claim per eligible property.
Click here to commence your claim
If you have a specific business rates enquiry, please call 01773 841444 or email nndr@ambervalley.gov.uk
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| Job Retention Scheme - All UK businesses are eligible. |
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Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
You will need to:
Designate affected employees as 'furloughed workers', and notify your employees of this change - changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiation
Submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required)
HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers. For more information: click here
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| Business Rate Relief for Retail, Leisure, Hospitality and Nursery sectors* |
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The business rates retail discount has been increased to 100% for one year for all eligible businesses (no rateable value threshold) and includes leisure, hospitality and nursery sectors.
Businesses that received the retail discount in 2019-20 will be re-billed by their local authority (they do not need to apply).
Need further help or information? Visit the Amber Valley Borough Council website
Contact the team directly on 01773 841444 or email nndr@ambervalley.gov.uk
*exceptions apply
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All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service.
These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.
If you have missed a tax payment or you might miss your next payment due to COVID-19, please call HMRC’s dedicated helpline: 0800 0159 559.
If you’re worried about a future payment, call the HMRC nearer the time.
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| Self Employed Income Support Scheme |
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The Government has announced the new Self Employed Income Support Scheme to extend support to the self-employed*.
HMRC will contact you directly if you are eligible and you will be invited to apply online. This scheme is open to you if you are self-employed* or a member of a partnership and have lost income due to coronavirus.
*This scheme may allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months, subject to eligibility. More details can be found here.
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| Coronavirus business interruption loan scheme |
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Under the new Covid-19 Corporate Financing Facility, additional sources of business finance may be secured via the Coronavirus Business Interruption Loan Scheme (CBILS) now available through participating lenders.
The Bank of England will buy short term debt from larger companies. This will support your company if it has been affected by a short-term funding squeeze and allow you to finance your short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms.
Want to know more? click here
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| D2N2 Growth Hub Webinar Events |
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The Growth Hub have a range of live webinars to inform and support businesses during the Covid-19 crisis. These are available for you to attend from the comfort of your own home. To book onto a webinar or to find out more about what's available click here
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| Financial Hardship Support |
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If you are experiencing immediate financial hardship based on the Covid 19 situation, please go to the information pages that will allow you to seek support from various sources and secure assistance. This includes details of Universal Credit, access to Food Banks and the Derbyshire Discretionary Fund providing grants and emergency cash payment if you are in urgent need. Please review this link regularly as we will keep it up to date as new sources of support are launched: click here
The Derbyshire County Council website also includes information and a section to apply for assistance if you need help click here
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Amber Valley Borough Council Services
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Business support, advice and guidance is available and posted on Amber Valley Borough Council website business pages This includes direct links to other support agencies and is evolving daily, so please check back regularly. The webpage is updated frequently, and you are encouraged to access the available guidance and support, including information relating to accessing business loans, grants and financial support for the self-employed.
With Coronavirus now affecting many areas of our services to our residents and businesses, we are keen to keep you right up-to-date with the changes we are being forced to make. Please follow the link to read about each individual service: click here
For any business enquiries, please contact:
Regeneration@ambervalley.gov.uk
You are receiving this information as you have registered with Amber Valley Borough Council to receive business information and/or Covid Business Support advice. Should you wish to unsubscribe, please email regeneration@ambervalley.gov.uk stating UNSUBSCRIBE within the subject field. Please circulate throughout the Amber Valley business community.
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