Check if you have Business Interruption cover in your commercial insurance policy, should you have to close your business.
Check whether you have an extension for “notifiable diseases. If you have this in your policy wording, you will need to reach out to your broker/insurer to confirm whether coronavirus is covered.
Look at Coronavirus Business Interruption Lending Scheme which will provide your lender with a government-backed 80% guarantee against the outstanding facility balance, which should enable a ‘no’ credit decision to become a ‘yes’.
Large businesses to pay any invoices owed to small businesses, immediately upon receipt of the invoice.
Small businesses or the self-employed with invoices issued should use this moment to chase for instant payment.
Issue invoices for work done – everyone should be encouraged to pay an invoice immediately.
Talk to your landlord about a rent holiday.
‘Time to Pay’ Tax (Corporation, Tax, PAYE, VAT)
Helpline: 0800 015 9559
Dedicated line for Coronavirus related challenges, to help small businesses unable to pay their taxes on time. HMRC will also waive late payment penalties and interest – contact HMRC immediately.
Statutory Sick Pay (SSP)
The Government has agreed to cover the costs of 14 days off per employee, for those off work due to coronavirus, in small and medium-sized firms.
National Insurance Bill
BRITISH BUSINESS BANK