We are aware that you will be affected in some way by Covid-19. If you have particular concerns please call us on 0191 586 1615 and a member of our team will assist you during this period of uncertainty.

The situation surrounding Covid-19 is constantly changing, at Bailey Group we are doing everything we can to ensure that our people are safe while continuing to deliver high quality client service.

If you are self-isolating and have books and records you need to get to us, click here to book our Scan Van. If you have symptoms, please make us aware so that safeguards can be put into place.

Where you have a face to face meeting with our people we ask that you consider alternative means of communication where appropriate and cancel if you or your staff members are experiencing symptoms.

Alternatively, please liaise with your account manager in regards to providing your records during this period.

Below is a summary of the various announcements made by the government of support available to small to medium businesses, correct as at the time of the email.

1.        If your income significantly reduces or you have to close your business, check your business insurance policy to see if you have business interruption cover and if notifiable diseases is covered by it.

2.        All businesses and self-employed people in financial distress, with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.

3.        Individuals who are facing financial difficulty due to Covid-19 will be eligible for a 3-month mortgage holiday. Currently no further details have been given on how to access this or the criteria.

4.        Changes to business rates

a.         Business rates retail discount in England will be increased to 100% for 2020-21 for properties below £51,000 rateable value.

b.        Business rates holiday to all retail, leisure and hospitality businesses for 2020/21.

5.        Grants available

a.         There will be a £10,000 cash grant to businesses that pay little or no business rates and are eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief. There is no need to apply and those eligible will be contacted by their local authority.

b.        Retail, leisure and hospitality businesses with a rateable value under £51,000 will be eligible for grants of up to £25,000.

6.        A new Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will enable businesses to apply for a loan of up to £5 million. The first 6 months of this loan will be interest free. Please see link below for further information and eligibility criteria.

https://www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance-guarantee/

7.        Temporary reform of SSP rules – came into force on 13 March 2020 and will be in place for 8 months

a.         Individuals who self-isolate to prevent infection or contamination with coronavirus disease in accordance with guidance published by Public Health England, NHS National Services Scotland or Public Health Wales and are unable to work for that reason will be entitled to SSP.

b.        Medical evidence is not required for the first 7 days of sickness. After 7 days, it is for the employer to determine what evidence they require, if any, from the employee

c.         The Government will reimburse small and medium employers any statutory sick pay they pay to employees for the first 14 days of sickness as a result of coronavirus.

d.        The government is setting up a new repayment mechanism for employers for reclaiming SSP

e.        For individuals who are not entitled to SSP, such as the self-employed and those that fall below the Lower Earnings Limit, a ‘new style’ Employment and Support Allowance through the welfare system will be payable for people directly affected by coronavirus or who are self-isolating according to government advice, from the first day of sickness or self-isolation.

If you would like to discuss any of these measures with us and how they may apply to you click here or call us on 0191 586 1615.