13 Fitzroy Street, London, W1T 4BQ. Tel: 020 7755 3192 Email: info@fitzroviapartnership.com @Fitzpartnership © The Fitzrovia Partnership 2020

Covid-19 Who to contact

What to do if your business has financial commitments

1. Talk to your insurance company

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.

2. Talk to your bank and look at the finance options

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’.

3. Talk to your customers about payment

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.

4. Talk to your landlord

Talk to your landlord about a rent holiday.  

5. Talk to HMRC

‘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. 

  • For companies up to 250 employees as at 28 February 2020
  • Effective from day one of sickness, rather than day four
  • Employers will be able to reclaim this expenditure; this is a rebate.
  • Employers should maintain records of staff absences and payments of SSP, but employees will not need to provide a GP fit note
  • This will kick in the day after the regulations on the extension of Statutory Sick Pay to those staying at home comes into force.

National Insurance Bill

  • Small employers with a National Insurance bill of £100,000 or less will continue to qualify for the Employment Allowance.
  • This will be expanded from April to £4,000 per small business.


6. Useful Links



Guidance for Employers and Businesses


ACAS Guidance for Business and Employees on Homeworking