Bounce Back Loans For Small Businesses
The Chancellor announced this week that small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders.
Businesses will be able to borrow between £2,000 and £50,000 and can access the cash within days to provide immediate support. For the first 12 months the loans will be interest free with no repayments due. Businesses can apply online through a short and simple online form.
The scheme has been designed to ensure that small firms who need vital cash injections to keep operating can get finance in a matter of days, and comes alongside the £6 billion awarded in business grants, supporting 4 million jobs through the job retention scheme and generous tax deferrals supporting hundreds of thousands of firms.
If you were a higher rate taxpayer that has stopped claiming for Child Benefit, as originally this resulted in the amount received being repaid to HMRC once your self-assessment tax returns were completed and submitted, please be aware that circumstances may well have changed because of being furloughed if you are the employee of, or own a business that has been affected negatively by the Covid-19 pandemic.
You may well now be able to claim for Child Benefit again and not have to repay it via their self-assessment tax returns. If eligible for this amendment, you can only backdate any claim three months.
Please speak to SFB to discuss this opportunity further.
Health & Safety Working From Home
During this period of unplanned home working for you and your employees, you are still responsible for their health and safety conditions during their working hours. You may not have realised that this also includes their homeworking set up, such as their desk, chair and computer screen.
This is a link to an online Display Screen Equipment (DSE) checklist for your employees to complete about their current work station so you are aware if you are able to help with any of their working conditions: https://www.hse.gov.uk/pubns/ck1.pdf
We bring to your attention advice being given by Nuneaton & Bedworth Borough Council, which is applicable to all businesses regarding action required to avoid the growth of legionella bacteria in their water systems whilst their business premises are closed.
The council is working to make local businesses aware about the dangers of the legionalla bacteria developing in office and factory hot water waters systems if they are not in normal, regular use during the coronavirus lockdown.
For further information, please follow the below link:
Current Arrangements For Delivery Of Your Records To SFB
In accordance with the social distancing guidelines, we have made the following arrangements in order to receive accounting and other records:
- Please email your usual contact or alternatively call 03333 444 171, to arrange a contactless delivery to your local office.
- Wherever practical, we can arrange to collect your records from you. We will take steps to ensure that the collection is both secure and contactless.
- Wherever possible we can receive information via the internet, and we may provide telephone assistance where required.
- If they are of a small size, please deposit your records through our letterbox at any of our offices.These procedures have been put in place to keep us within the rules of social distancing and to offer protection to all.
If you require the return of your records and this cannot wait until the ‘lockdown’ has ended, then please let us know so we can make the necessary arrangements with you.