Frequently Asked Questions About Coronavirus
Last updated 20th March 2020 at 2pm
Staff & Statutory Sick Pay
They are entitled to sick pay of £94.25 per week starting from Day 1.
HMRC will pay sick pay for businesses with fewer than 250 employees, they will cover the full fourteen days for self-isolation.
You need to let Payroll@JonesAccountants.co.uk know so she can update your payroll with the relevant sick pay.
They can make a claim for Universal Credit, which can in some cases be paid a month up front to assist with living costs.
They can make a claim for Universal Credit or Contributory Employment and Support Allowance. The Universal Credit can be paid up to a month in advance to assist with living costs.
We have no guidance at the moment, however as soon as we do we shall update here and notify our clients via e-mail.
Your staff will be entitled to 80% of their wages.
Eligible employees and workers must receive any Statutory Sick Pay (SSP) due to them if they are not sick themselves but must isolate.
Employees are entitled to time off work to help a dependent (a child, etc) in the unexpected event or emergency. This would apply to situations related to Corvid-19.
If they have children they need to look after to arrange childcare for because their child's school has closed.
To help their child or another dependent if they're sick, or need to go into isolation or hospital.
Loans & Grants
You can now get an interest free (for one year) loan. To apply you need to contact the bank who holds your business account.
You should qualify for a business interruption loan. You have to pay it back but it is interest-free for a year.
Try again. Procedures have been put into place for banks to do the very best to help you.
I am working with the British Business bank and hoping to get the answer to that soon.
There is a grant available for people who qualify for small business rates relief of £10,000. For businesses who pay a reduced amount of rates you will receive £25,000. You do not need to apply, it will be paid to you in April. There may be more, we will update as and when the information is made available.
This will be distributed by local Government in early April when the system has been set up.
Yes, Businesses that have cover for both pandemics and government-ordered closures should now be covered, on the grounds that the government and the insurance industry have confirmed the advice given on 17th March would make the claim valid. Also, check if you are covered for stock.
Who am I? - Dinah Jones, from Leeds
What do I do? - Accountant, Business Advisor, and Trainer in Cloud Technology
What is my area of expertise? - 25 years as a qualified Accountant plus personal and business taxation consultant. I have concentrated on cloud software and business growth
Why do business hire you? - To improve their profits, overview their systems and reduce their costs. After an initial consultation clients can see how they business will benefit and as they are not locked into a contract it’s a no brainer.
Why you, how can you help? - Clients like to have choices and given the opportunity to run things their way, especially when growing. Its expertise they need to assist them not dictate to them.
I like to ask them, how does your business grow and perform? It can be an intense conversation but always fruitful.