😁We know we’re stating the obvious here, but the last 2 or 3 weeks has been a big blow to not just the majority of businesses here, but also across the whole of the UK.

💼However, as business owners, we have control over how we address and react to the situation. Our attitude will be imperative to how our business survives over the coming weeks and beyond when the country comes out the other side.

😉There are dozens of things we can help you with to prepare your business for that time but right now we think it’s most useful to direct you to how you can make sure your business is protected because there is help available.

🤷Many business owners are deciding to ignore it and turn their back and stop everything.

🧐The sensible ones are taking advantage of the help from the government (and there’s lots of it).

Let’s look at what you can take advantage of…

• Ø VAT – Payments have been deferred until end of June. This is a VAT holiday, not a waiver
• Ø Employees – Job Retention Scheme: 80% of wages, subject to a max of £2500/mth will be paid by Government so that staff are furloughed rather than laid off.
• Ø Business rates are abolished this year for businesses in retail, hospitality or leisure.
• Ø Grants – Grants up to £25,000  will be available to retail, leisure and hospitality businesses & up to £10,000 to all other business owners who occupy business premises and qualify for Small Business Rates Relief - (Automatic notification if you’re eligible)
• Ø Business Interruption Loans – Up to £5m, will be provided to small business, via traditional banks with 80% of the loan guaranteed by the government. They’re interest free for 12 months. Contact your own bank to see if you’re eligible.
• Ø Self-employed –

-          Taxable grant open to anyone with income up to £50,000.

-          Must have a tax return for January 2019, will be able to apply (but have given an extra 4 weeks from 26^th March 2020 to submit it if you haven’t already done so).

-          Self-employed people may also be eligible for the business interruption loans.

-          Self-assessment income tax payments, that were due in July, can be deferred to the end of January next year.

-          The scheme is intended to last for three months (although that may be extended if necessary). However, people cannot claim yet and it is not payable until June. 

-          Self-employed people can also now access Universal Credit in full.

-          Full details outlined on the gov.uk website.

🤑So our advice is TAKE THE MONEY! 🤑

Whatever your views of the government, they have made the money available and put it there for YOU! 💰

☎️Please call us on 01737 350 079 or email us via epsom@thebestof.co.uk if you need guidance on anything at all as we are going to do everything we can to help and support the brilliant local businesses during these unprecedented times. ☎️