We have a close working relationship with the accountancy firm Fergusons & Peters in Swansea. Now with all the uncertainty surrounding the Corona Virus they have published the below useful report. In particular, if you run your own business this will provide you with some useful information and guidance.
Fergusons & Peters have provided a Link to a COVID 19 budget factsheet that may help you understand the measures that will shortly be in place from the Government.
We would urge all clients to review their regular outgoings and consider:
1) Which expenses can be cancelled short term
2) Which expenses can you arrange a holiday from
3) Which expenses can you arrange time to pay on
HMRC have announced that they are providing support to businesses by directing additional man power to phone lines arranging time to pay on HMRC liabilities.
This dedicated phone line is
0800 0159 559
Staff – Short Term
We understand that with the increase in Corona Virus threats, there will be concerns for employers regarding Statutory Sick Pay.
In order to ease some confusion, we have summarised the following points:
In addition to the above points, please note that only companies with 250 employees or less at 28th February 2002 will be eligible to reclaim the SSP.
Staff – Long Term
If the Corona Virus is to be with us over a longer term, you may be forced to consider laying off staff or arranging flexible home working. These procedures will be governed by the content of your staff contracts.
HMRC have made claiming for Contributory Employment Support easier and the cashflow impact quicker. This support is based on your National Insurance Contributions year record. If you do not have enough qualifying years, you can apply for the Employment Support Allowance. This is means tested and will include your partners income.
For more help you can phone the Department of Work and Pensions Helpline on
0800 169 0154
We hope the above post helps
Thank you for everything. The service, professionalism and effort has been above what would be expected. Thank you. Richard & Laura