Vale of Clwyd MP Dr James Davies is urging businesses and self-employed people in the constituency to take advantage of new a ‘support finder’ tool launched last night which will help them to quickly and easily determine what financial support is available to them during the COVID-19 pandemic.
The support finder tool, which can be found at https://www.gov.uk/business-coronavirus-support-finder will ask firms and individuals to fill out a simple online questionnaire, which takes minutes to complete, and they will then be directed to a list of all the financial support they may be eligible for.
James said:
“It is an incredibly worrying time for businesses and self-employed people and I have received vast levels of correspondence from many in the Vale of Clwyd asking what help is available to them amid this pandemic.
“The UK Government have launched an unprecedented package of support to protect jobs, businesses and incomes during these challenging times and this new online tool will allow firms and individuals to identify exactly what help they are entitled to.
“The support finder tool process can be completed in a matter of minutes. I urge businesses and the self-employed in the Vale of Clwyd to take advantage of this new facility.”
To support business, workers and the self-employed during the coronavirus outbreak, UK Government has:
- made up to £330 billion of loans and guarantees for businesses
- offered to pay 80 per cent of the wages of furloughed workers, up to £2,500
- deferred the next quarter of VAT payments for firms, until the end of June - representing a £30 billion injection into the economy
- introduced £20 billion in tax relief and cash grants to help businesses with cash flow
- introduced the Coronavirus Business Interruption Loan Schemes for both SMEs and larger businesses to make it easier to access vital financial support
- offered to cover the cost of statutory sick pay
- entirely removed all eligible properties in the retail, hospitality and leisure sector from business rates temporarily;
- introduced the Self-employment Income Support Scheme, offering a taxable grant worth 80% of trading profits up to a maximum of £2,500 a month
- deferred Self Assessment payments due in July 2020 until 31 January 2021
- allowed companies required to hold AGMs to do so flexibly, which may include postponing them or holding them online;
- suspended wrongful trading provisions for company directors to remove the threat of personal liability during the pandemic; and
- offered a 3 month extension for filing accounts to businesses hit by coronavirus.
More details on support for businesses can be found on the coronavirus business support hub.
