Construction support during Covid-19

With the government releasing a package of help for self-employed, BuildUK – the leading representative organisation for the UK construction industry, bringing together Clients, Main Contractors, Trade Associations – has produced a guide to assistance available to construction companies.

Business rates holiday:

Eligible: Retail, hospitality and leisure sector businesses in England

Guidance: No action required, will be applied to Council Tax bill in April 2020

Cash Grant:

Eligible: Retail, hospitality and leisure sector businesses in England

Guidance: No action required. Local Authorities will notify businesses. Available for each different property dependent on rateable value

Coronavirus Business Interruption Loan Scheme (CBILS):

Eligible: UK businesses with a turnover of less than £45M per year which meet British Business Bank eligibility criteria

Guidance: Available as of 23 March 2020. Loans of up to £5M, 12 months interest free. Find out more from British Business Bank or apply through your current bank or an accredited lender

Coronavirus Job Retention Scheme:

Eligible: All UK employers

Guidance: Employees that you can no longer afford to pay will be designated ‘furloughed workers’. Businesses can claim 80% of their wage costs up to a cap of £2,500 per month.

COVID-19 Corporate Financing Facility

Eligible: All UK businesses

Guidance: Available as of 23 March 2020. Purchase Commercial Paper (CP) during a defined period each business day. Businesses do not have to have previously issued CP. Available from the Bank of England.

Income Tax deferral:

Eligible: Self-employed workers

Guidance: Income Tax Self-Assessment payments due on 31 July 2020 will be deferred until 31 January 2021

MOT Suspension:

Eligible: Businesses utilising heavy good vehicles (HGVs) and public service vehicles (PSVs)

Guidance: Available as of 21 March 2020. Annual MOTs suspended for three months for all HGVs and PSVs. Vehicles to be issued with a certificate of temporary exemption (CTE). Find out more from the DVSA.

Small Business Grant Scheme:

Eligible: Small businesses that occupy property and receive Small Business Rate Relief (SBBR), Rural
Rate Relieve (RRR), or Tapered Relief in England

Guidance: No action required, Local Authorities will contact businesses. One-off grant of £10,000

Statutory Sick Pay (SSP) reclaim:

Eligible: Employers with fewer than 250 employees on 28 February 2020

Guidance: Claim back up to two weeks SSP per employee who is absent due to coronavirus (COVID-19).
Maintain records of absence, no GP fit note required.

Time to Pay – Tax Service:

Eligible: Businesses that pay tax to the UK Government and cannot pay a current tax bill

Guidance: Arranged on a case by case basis for current or imminent tax payments. Call HMRC on 0800 0159 559.

VAT deferral for 3 months:

Eligible: All UK businesses

Guidance: VAT payments will not need to be made between 20 March – 30 June 2020. You must continue to account for VAT on eligible goods & services. Deferred VAT will be due by April 2021. No penalties or interest will be charged. Vat refunds will be paid as normal. No application required to benefit from deferral.

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