Announcement on (20/03/2020)
Further Urgent Announcements from the Government.
- All Restaurants, Bars, cafes, clubs, leisure centres to close from end of today. This is now compulsory. Takeaways can remain open.
- Help for wages. Job retention scheme. All employers eligible for grant. Any employee furloughed (on temporary leave). 80% wages up to £2,500 month will be paid by HMRC Starting from 1/3/20 for 3 months.
- Business Interruption Loan. Interest free for 12 months. Increased from 6 months.
- Defer/Delay next quarter (until end of June) VAT payments. Have until end of financial year to pay this VAT.
- Universal Credit Allowance increased by £1,000 per year. Tax credits increased by £1000.
- Self employed can access Universal Credits immediately. Will get similar to Saturory Sick Pay.
- Next self assessment tax payment for self employed delayed to 2021.
- Housing Benefits to be increased for rent payers.
ABACUS is here to help all our clients access these grants and assistance and will action as soon as the process is confirmed.
Please wait until next week as we expect to receive further information by then.