The government has announced a raft of support for businesses and organisations. This information is correct at 18/3/20 but things are changing quickly.
- a statutory sick pay relief package for SMEs
Charities and not for profits are eligible for this. It covers up to 2 weeks of SSP for staff who are sick with Covid 19 or have to self-isolate. The system to claim this has not been announced yet.
- small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
Currently our reading of the legislation suggests registered charities will not be eligible for this. Our view is based on the fact that registered charities receive mandatory rate relief they are not eligible for small business or rural rate relief and so do not meet the gateway criteria for this support. we are in discussion s with SCC to have this raised as an immediate issue of concern.
- the Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance
Current guidance is that not for profit organisations will only qualify for this if more than half of their income is from trading activities.
- the HMRC Time To Pay Scheme
Not for profits are able to take advantage of this