Whether you are preparing for your return to work or have already done so, there are some important dates approaching regarding coronavirus funding schemes that we recommend keeping in mind.
10 June – This is the last day on which an employee can start their furlough period and qualify for the scheme going forward.
12 June – Full details of the new scheme rules are announced.
30 June – The scheme will be closed to anybody who has not been furloughed for a three-week period ending before this date.
1 July – Rules of the scheme change.
31 July – The cut-off date to make a claim for any periods of furlough up until 30 June – this applies to both employees furloughed for the first time and those you have previously furloughed and claimed for.
1 August – Employers will start contributing to their furloughed employee’s wages until the scheme ends on 31 October.
4 November – The scheme is currently open until this date, but the government retain the right to extend it.
12 months into the loan – Loanees don’t need to pay any interest on their loan for the first 12 months, with no fees attached. The loan won’t cost a penny until repayments begin, but early repayments are accepted with no added interest.
You can read more about the Bounce Back Loan in our recent post.
13 July 2020 – The deadline for applications of the first grant in this scheme.
August 2020 – The scheme is being extended. Check back here for further details to be released.
We recommend applying as soon as possible for this funding if you haven’t already been contacted by your local authority. No deadline has been announced yet, but the government could choose to close it at any time. This provides a grant of up to £25,000 for businesses in this sector with a rateable value under £51,000.
£10,000 is being awarded to businesses who’s premises are eligible for small business rates relief, regardless of their sector. There is currently no closing date for these grants, so if you haven’t received this and you believe you are eligible, you should contact your local authority.
Register an expression of interest – Due to high demand, you can register an expression of interest for the fund if you didn’t meet the criteria for the £10,000 or £25,000 grants. We recommend doing this soon as phase two will begin to award grants later this month.
15 June – Checks of submitted applications are aimed to be completed by this date.
19 June – Payments to be made.
If you haven’t already, download our easy-to-use cashflow template. There are options for both business and personal use.
You will find guidance on the government website for your sector. This will help you understand how to work safely during the coronavirus pandemic.
Have you completed a risk assessment for your workplace? Follow these 5 steps to working safely, or download a risk assessment template form HSE.
5 April – Tax return for the 2019/20 tax year.
31 July – Normally, this would be the deadline for a second payment if you make advance payments towards your tax bill. This is known as payments on account.
31 January – The deferred deadline for your second payment.
Many payment holidays awarded by lenders gave a 3-month break from payments. These could be coming to an end this month if you contacted them in March, so if you need more time to pay then it would be sensible to get in touch with the credit providers and arrange any future periods of relief from payment commitments.
We want your return to the workplace to be as straight-forward as possible for you and your employees. To help achieve that, we have created a simple checklist of the items detailed above that you can tick off digitally or print out to keep for reference.