If you are self-employed or own a business and you are concerned about not being able to pay your tax bills because of COVID-19, you may be eligible for support through Her Majesty’s Revenue and Customs’ (HMRC) Time to Pay service:
• If you think you or your business is eligible for support through Time to Pay, you can call the following helpline number to get practical help and advice: 0800 0159 559.
• These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.
• For more information, please check the HMRC site here: https://www.gov.uk/government/news/tax-helpline-to-support-businesses-a….
If you own a pub that serves food or a restaurant in England, you will be able to operate a hot food takeaway to serve people staying at home, without going through the usual planning process:
• The Ministry for Housing, Communities and Local Government (MHCLG) will shortly legislate to bring forward a temporary Permitted Development Right to allow for change of use from A3 (Restaurant) and A4 (Pub) to A5 (Hot Food Takeaway).
• The intention is that once the legislation has come into force a pub or restaurant will be able to notify their Local Authority that they are now operating as a takeaway without any prior approval.
If you contract your services to large- or medium-sized organisations outside of the public sector you should read the following information:
• The government announced on 17 March that the reform to the off-payroll working rules (commonly known as IR35) - that would have applied for people contracting their services to large or medium-sized organisations outside the public sector - will be delayed for one year from 6 April 2020 until 6 April 2021.
• Business and individuals do not need to take any action.
If you are a large business facing cash flow issues as a result of COIVD-19, you may want to read the following information:
• Companies commonly sell short term debt (‘commercial paper’) to the market. This is a quick and cost effective to raise working capital.
• The new COVID-19 Corporate Financing Facility means that the Bank of England will buy short term debt from companies.
• This will support companies which are fundamentally strong, but have been affected by a short-term funding squeeze, enabling them to continue financing their short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms.
• Further details can be found here in the exchange of letters between the Governor of the Bank of England and the Chancellor, found here: https://www.gov.uk/government/publications/launch-of-covid-19-corporate….