|
|
|
|
Good afternoon,
There was major announcement on Wednesday night by the Chancellor affecting the Charity sector, and we have some additional information with regard to applying for the grant available under the Coronavirus Job Retention Scheme.
This morning we have also received further information on grants available under the Welsh Government’s Economic Resilience Fund, and we outline these for you also. A wealth of information to digest over the Easter break!
Charities
- They say that Charity begins at home, and nothing could be more true in the present circumstances! Wednesday night the Chancellor, in recognizing the special role that Charities play in our social and economic life, announced a £750m boost to that sector.
- £360m will be a support package for charities providing vital services and supporting vulnerable people.
- £370m has been allocated for small and medium sized charities, including through a grant to the National Lottery Community Fund for those in England. Welsh Government will receive £20m as part of this allocation.
- A further £20m was by way of a commitment to match fund public donations to the BBC’s “ Big Night” charity appeal on 23rd April, starting with a contribution of at least £20m to the National Emergencies Trust appeal.
Wednesday's announcement builds on previously announced support packages which Charities are eligible for, including deferring their VAT bills, paying no business rates for their shops next year, and furloughing their staff where possible with the Government paying 80% of their wages.
Coronavirus Job Retention Scheme
- A draft letter from HMRC has been forwarded to us as tax agents requesting assistance with regard to handling the scheme, and how applications should be submitted. HMRC hope to have the scheme up and running on Monday 20th April, and will be contacting businesses and advising them on what they need to do.
- The service is designed to be self-serve with guidance in place, and claims must be submitted online.
You will need to provide the following information to make a claim:-
1. The bank account number and sort code you would like HMRC to use when they pay your claim.
2. The name and phone number of a person in your business for HMRC to call with any questions.
3. Your Self-Assessment UTR (Unique Tax Reference), Company UTR or Company Registration Number.
4. The name, employee number and National Insurance number for each of your furloughed employees.
5. The total amount being claimed for all employees and the total furlough period.
Because the claims will be submitted online everyone will need to ensure that they have access to their Government gateway login for payroll . If you don’t have a government gateway account for your PAYE please enrol here.
- For those businesses who already have Mitchell Meredith completing your payroll, we are reviewing the information which we have on file and will be in touch if we need any further information to ensure that we will be able to complete the grant claim on your behalf.
Welsh Government Economic Resilience Fund
- Further details have today been announced with regard to this Fund.
- Micro businesses, who are NOT eligible for the Business Rate Grant, and employ 1-9 people, and have been affected by the COVID-19 outbreak, are able to apply for a grant of up to £10,000. There is a range of specific criteria which must be met in order to be eligible. The criteria is extensive and detailed, and can be found on the link provided below.
- Businesses with 10-249 employees will be able to apply for grants of up to £100,000.
- Again, there is an extensive list of criteria in order to be eligible and further details can be found here or via the link below.
- Please refer to this link before even considering submitting an application for either of the above funds – Welsh Economic Resilience Fund Checker
- Applications for both funds are open from 17th April 2020.
- Support for larger Welsh Companies, which are of critical social or economic importance to Wales will follow later this month
- We will keep you updated on any further information as we receive it.
Sports, Creative Industries and Culture Fund
A package worth £18m in support of Culture, Sport, and the Creative sector in Wales has also been announced.
Briefly, this includes:
- £7m Arts Resilience Fund
- £8m Sports Resilience Fund
- £1m Creative Wales Fund - Support for grass roots music venues
- £1m Cultural Resilience Fund - Museums, collections, conservation services, archives and community and public libraries
- £750k Emergency Relief Fund - For the smallest and most vulnerable independent sport, museum and heritage organisations
- £250k Digital Library Resources
Further detailed information can be obtained on the Business Wales website, or go to www.gov.wales
Sport Wales Emergency Relief Fund
- £400k has been allocated to provide financial support to those not-for-profit community sports clubs, and who are likely to need immediate financial support over the next 12 weeks up to 30th June.
- Each eligible Club will be able to apply for a maximum of £5,000.
- If your are linked to a sports club please encourage them to apply!
- Applications can be made on Sport Wales' website here
Coronavirus support FROM your business
- This may be an opportunity for some businesses to help with the response to the coronavirus, especially if you are a manufacturer, have warehouse or office space, or provide transport or social care.
- You will be asked some questions about the type of support you can give, and to what extent you will charge or donate it. You will them be contacted as soon as possible if your support is needed.
- Further information can be found here.
Additional information
That’s it from us this week. Please all have a safe and enjoyable Easter in your own home.
Best wishes
Mitchell Meredith
|
|
|
|
|
|
|
|
