COVID-19: businesses update 26 March

Welcome if you are one of our new subscribers. This newsletter is a summary of recent announcements.

Support for the self-employed announced

The Chancellor has just announced the Self-employed Income Support Scheme. This will be a grant worth 80% of the person's monthly profits over the last three years, up to £2,500 a month. To be eligible for the scheme, the person:

must earn the majority of income from self-employment
must earn a maximum of £50,000 per year averaged over the last three years
must have a tax return for 2019

People that have only been trading for one or two years will still be eligible. There will be an extra four weeks grace for those who have not yet submitted their 2019 tax return so they can be included in the scheme.

The scheme will be administered by HMRC and it is hoped it will be up and running in June. People do not need to contact HMRC now, if they are eligible HMRC will contact them directly.

Support for the self-employed

Rate relief extended

The Government announced a 'Business Rates Holiday' for occupied retail, leisure and hospitality properties for the year 2020/21. There was no rateable value limit on the relief. The Government has subsequently extended the scope of this relief to include:

Employment agencies
Estate agents and letting agents
Betting shops
Wellness centres, spas, massage parlours
Casinos, gambling clubs and bingo halls

Eligible businesses do not need to take any action. The relief will be applied automatically. Please see the Government guidance for the full list of eligible business types.

Guidance including list of eligible business types

Update on the grant schemes

The Government announced two grant schemes to help businesses through the COVID crisis:

Small Business Grant Fund
- One-off grant of £10,000 to help meet ongoing business costs
- Available for any business that receives Small Business Rate Relief and/or Rural Rate Relief
Grant for Retail, Hospitality and Leisure businesses
- One off grant of either £10,000 or £25,000 depending on rateable value of property
- Retail, hospitality and leisure businesses occupying property with rateable value of less than £51,000 are eligible

A huge effort is underway at both Government and the Council to get these schemes up and running as fast as possible and we will keep you updated.

You don’t need to call us right now, rest assured that we’re working hard to sort which businesses are eligible for the grants and we’ll be in contact in due course. As you know, the Cotswolds has a high number of tourism related businesses and we’re committed to getting this right with the schemes we’re designing.

Further guidance on the COVID grant schemes

Companies House accounts filing extension

Companies House has announced that businesses will be given an additional three months to file accounts to help companies avoid penalties as they deal with the impacts of COVID-19.

Apply to Companies House for a filing extension

Advice for accommodation providers

The Government has published advice for businesses providing holiday accommodation in the UK as well as those providing temporary accommodation for families and homeless people.

COVID-19 advice for accommodation providers

Businesses trading overseas

The Department for International Trade offers support and advice for UK businesses that export or deliver goods and services abroad and have been impacted by the spread of COVID-19.

Advice for businesses trading overseas

Covid-19: Latest information and advice

Our council Coronavirus page has updates about business support, communities and leisure, bins and recycling, elections and council meetings, planning and building and council news.

Visit our council Coronavirus page

Keeping up to date

Please forward this email to others who might find it useful and encourage them to sign up to further updates.

Need advice? We can help!

Cotswold District Council’s website carries a wealth of information to help businesses starting up or looking to grow and develop. Sections range from commercial property listings to advice on loans and grants. You can also apply for licences and permits, rate relief and to book commercial waste collections.

Visit our website

We hope you found this newsletter useful. We would like them to be as relevant as possible so please let us know what you think and don’t forget to send us your news to press@cotswold.gov.uk

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Our mailing address is:
Cotswold District Council, Trinity Road, Cirencester, Gloucestershire, GL7 1PX.

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Cotswold District Council · Council Offices · Trinity Road · Cirencester, Gloucestershire GL7 1PX · United Kingdom