Support for Businesses to deal with COVID-19 Who is eligible? What is it Requirements Organisation to contact Grants and loans Small Small businesses that occupy An additional Small Business City Council is Peterborough Business a property and receive small Grant Scheme providing a one-off contacting eligible businesses. To City Council Grant business rate relief (SBRR) grant of £10,000 to eligible enable payment to be made please and / or rural rate relief (RRR) businesses to help meet their email business.rates ongoing business costs. [email protected]. @ uk with a copy of the header of your peterborough.g bank statement showing: ov.uk

 business name 01733 452252  business address  sort code  account number

Please start your email with GRANTS and your business rates account number in the subject heading.

Further details can be found on the COVID-19 business support page of Peterborough City Council's website under Business Rate -> Small Business Grant Funding.

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Coronavirus UK based business with It will enable businesses to apply The scheme is now open for 40 accredited Business turnover <£45 million, for a loan of up to £5 million for up applications. All major banks are lenders, backed Interruption including the self-employed. to 6 years, with the government offering this scheme. by the British Loan Scheme covering up to 80% of any losses To apply, you should talk to your Business Bank Your business meets the with no fees. bank or one of the 40 accredited other British Business Bank finance providers as soon as Read more eligibility criteria. The government will also make a possible, to discuss your business about CBILS Business Interruption Payment to plan. here cover the first 12 months of interest payments and any lender- If you have an existing loan with levied fees. The government will monthly repayments you may want provide lenders with a guarantee to ask for a repayment holiday to of 80% on each loan (subject to help with cash flow. pre-lender cap on claims).

Cash grants Retail, hospitality and / or Grants to retail, hospitality and Peterborough City Council will Peterborough for retail, leisure businesses based in leisure businesses operating contact eligible businesses. To City Council hospitality . from smaller premises. enable payment to be made please and leisure email business.rates businesses Rateable value<£15,000 will [email protected]. @peterborough receive a £10,000 grant uk with a copy of the header of your .gov.uk bank statement showing: Rateable value £15,000-£51,000 01733 452252 will receive a £25,000 grant  business name  business address Properties must be wholly or  sort code mainly being used as; shops,  account number restaurants, cafes, drinking establishments, cinemas and live Please start your email with music venues; for assembly and GRANTS and your business rates leisure; as hotels, guest and account number in the subject boarding premises and self- heading. catering accommodation Further details can be found on the COVID-19 business support

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page of Peterborough City Council's website under Business Rate -> Small Business Grant Funding.

COVID-19 Lager companies. The Fund The Bank of England will buy The scheme is now available for Bank of Corporate will purchase commercial short term debt from larger applications. England. Financing paper issued by companies companies. This will support Facility (including their finance companies affected by a short- (CCFF) subsidiaries) “in sound term funding squeeze, and allow financial health that make a them to finance short-term material contribution to liabilities. economic activity in the United Kingdom”. It will also support corporate finance markets overall and ease Businesses do not have to the supply of credit to all firms. solely operate in the UK. All non-financial companies that meet the criteria set out on the Bank of England’s website are eligible.

Cultural Individuals and organisations Art Council England has Applications will be open soon. Visit Arts Council sector working in the cultural sector repurposed its investment strands the website for more details: England funding to create a £160 million financial https://www.artscouncil.org.uk/covid support package including: 19  £90 million for National Portfolio Organisations  £50 million for organisations that are not in receipt of regular funding from the Arts Council

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 £20 million for individuals artists, creative practitioners and freelancers

Support for Businesses to deal with COVID-19 Who is eligible? What is it Requirements Organisation to contact Employee costs Coronavirus All UK employers HMRC will reimburse 80% of Designate affected employees HMRC Job furloughed workers wage as ‘furloughed workers,’ and Retention costs, up to a cap of £2,500 notify your employees of this A new portal will be Scheme per month for employees that change - changing the status of developed where otherwise would have been employees remains subject to businesses can submit laid off due to the crisis existing employment law and, information about furloughed employees depending on the employment and their earnings. contract, may be subject to negotiation Details to follow. Self- Self-employed Self-employed people You need to have a return HMRC will inform those employed with trading adversely affected by for 2018-19 filed in January to eligible and payments are Income profits up to coronavirus will receive apply. expected no later than Support £50,000, where Government grants of 80% of the beginning of June. Scheme more than half of their total profits over three HMRC will use the average profits (SEISS) their income is years, capped at £2,500 per from tax returns in 2016-17, 2017- from self- month. 18 and 2018-19 to calculate the employment. size of the grant. . It will be open for an initial three months with people able to make their first claim by the beginning of June. Sick pay for Small or medium SME employers will be able A rebate scheme is being The government will work employees sized UK based to reclaim up to 14 days of developed. Further details will with employers over the businesses Statutory Sick Pay (SSP) coming months to set up

paid for sickness per eligible the repayment

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with fewer than employee who has been off be provided once the mechanism for employers 250 employees work because of COVID-19 legalisation has passed. as soon as possible as of 28 February 2020 Employers will be able to Employers should maintain reclaim expenditure for any records of staff absences and employee who has payments of SSP, but claimed SSP (according to employees will not need to the new eligibility criteria) as provide a GP fit note. a result of COVID-19

Support for Businesses to deal with COVID-19 Who is eligible? What is it Requirements Organisation to contact VAT & Tax Deferred VAT All UK businesses If you’re self-employed, This is an automatic offer with no HMRC and Income Income Tax payments due in applications required. Tax July 2020 under the Self- Businesses will not need to make a Customers who payments for Assessment system will be VAT payment during this period. normally pay by direct 3 months deferred to January 2021. For Taxpayers have until the end of the debit should cancel VAT, the deferral will apply 2020/21 tax year to pay any liabilities. their direct debit with from 20 March 2020 until 30 VAT refunds and reclaims will be paid their bank if they are June 2020. by the government as normal. unable to pay.

Income Tax Self-employed Self-assessment payments This is an automatic offer with no HMRC have also Self- due on the 31 July 2020 will be applications required. No penalties or scaled up their Time to Assessment deferred until the 31 January interest for late payment will be Pay offer to all firms – deferred 2021. charged in the deferral period. and individuals who are payment in temporary financial Customers who normally pay by direct distress as a result of debit should cancel their direct debit Covid-19 and have with their bank if they are unable to outstanding tax pay. liabilities.

Time to Pay Businesses and the Receive support with tax If you have missed a tax payment or Call HMRC’s dedicated service self-employed that are affairs through HMRC’s Time you might miss your next payment helpline: 0800 0159 in financial distress To Pay service. Arrangements due to COVID-19, please call HMRC’s 559. and have outstanding are agreed on a case-by-case dedicated helpline: 0800 0159 559. tax liabilities basis and are tailored to individual circumstances and liabilities.

Support for Businesses to deal with COVID-19 Who is eligible? What is it Requirements Organisation to contact Business Rates Business Retail, hospitality, This is a business rates holiday for There is no action for businesses. This Peterborough City rates holiday and/ or leisure retail, hospitality and leisure will apply to your next council tax bill in Council for retail, businesses based in businesses in England for the April 2020. However, local authorities hospitality England. 2020 to 2021 tax year. may have to reissue your bill business.rates@ and leisure automatically to exclude the business peterborough.gov.uk Properties that are wholly or businesses rate charge. They will do this as soon mainly used as shops, restaurants, 01733 452252 as possible. cafes, drinking establishments, cinemas and live music venues, for You can estimate the business rate assembly and leisure, as hotels, charge you will no longer have to pay guest & boarding premises and this year using the business rates self-catering accommodation. calculator. Businesses that received the retail Further guidance for local authorities is discount in the 2019 to 2020 tax available in the expanded retail year will be rebilled by their local discount guidance. authority as soon as possible.

Support for Providers on Ofsted’s A business rates holiday will be There is no action for you. This will Peterborough City nursery Early Years Register, introduced for nurseries in England apply to your next council tax bill in Council businesses and where premises for the 2020 to 2021 tax year. April 2020. that pay area wholly or mainly business.rates@ business used for the provision You can estimate the business rate peterborough.gov.uk rates of the Early Years charge you will no longer have to pay Foundation Stage this year using the business rates 01733 452252 calculator.