Check out the latest information and advice on coronavirus (COVID-19).
Following the recent developments relating to COVID-19, we are committed to supporting local businesses through this difficult time. These are uncertain times and we are working closely with our partners to determine how best we can support businesses in Derby, and will continue to keep this page updated as we receive further guidance.
The government has announced and continues to announce support that is being put in place for businesses in the UK that have been affected by the COVID-19 public health emergency.
The government will reimburse small to medium enterprises (SMEs) for the first two weeks of SSP claimed in relation to the COVID-19 virus. They will not need to see evidence of a GP Sick Note, just a record of absences. The rebate process is being developed currently and will be paid retrospectively from the 13th March 2020. The online portal is being developed, you can check here for more information.
Furloughed employees' salaries, from the 1st March until 1st June 2020, will be reimbursed to the value of 80% of income (up to £2500) by HMRC to safeguard against redundancy and covers a wide range of employment circumstances so do check the online guidance.
After the 31st July, employers have the option to bring staff back part time while still benefitting from the furlough scheme until the end of October 2020. You can apply through the Government Gateway.
This also covers apprentices but the employer would be liable for making up any shortfall between the 80% and the Apprenticeship Minimum Wage, National Living Wage or National Minimum Wage (AMW/NLW/NMW). Learning arrangement guidance for apprentices can be found here.
This grant is open until 10am Friday 28th August.
The council is particularly keen to receive applications from Derby based not for profit organisations whose primary purpose is to deliver arts and cultural programmes who are in urgent need of financial support given the severe impact that COVID-19 has had on their income. These applicants may be entitled to up to £25,000 as opposed to the £10,000 limit for general applicants.
This scheme is designed to support eligible organisations that have been significantly impacted by COVID-19 and will focus on the fixed property costs incurred during the March-May 2020 period.
The mandatory criteria for all applicants are:
To apply for the scheme, complete the application at MyAccount portal where businesses are asked to confirm they meet set criteria and also provide supporting documentation in order to streamline the decision-making process.
Businesses which fall into the below categories are being granted business rate relief for the 2020/2021 tax year:
Your local authority will recalculate and reissue the bill if necessary - you don't need to do anything. The full eligibility details can be found here.
Commercial tenants who cannot pay their rent because of COVID-19 will be protected from eviction.
These measures will mean no business will automatically forfeit their lease and be forced out of their premises if they miss a payment up until 30th June. You will have to pay the liable rent, this is not a rental holiday.
If you are struggling to pay your tax liabilities due to the challenges presented by COVID-19, you can arrange a Time to Pay agreement with HMRC by calling their COVID-19 Helpline: 0800 024 1222 Monday to Friday from 8.00am to 4.00pm. The exact arrangement will vary on a case by case basis.
Small businesses can apply for a Business Interruption Loan from over 40 lenders in the UK and you can speak to your usual business bank in the first instance. If you choose to go ahead with the CBILS, the government will secure 80% of the loan and cover the interest and fees for the first 12 months. You can borrow up to £5 million over six years. You can also consider overdraft, invoice and asset financing options. A list of participating lenders can be found here and you can apply through this link.
These are small loans worth £2,000 to 25% of the company's turnover which are aimed at the UK's smallest businesses to help them to get back to trading again after the restrictions have been lifted. The interest on these loans is paid by the government for the first 12 months, afterwhich they have an interest rate of 2.5%. The loans will be approved and received within 24 hours so that businesses can move swiftly, and can be applied for here.
Aimed at innovative companies, the Future Fund offers convertible loans of between £125,000 and £5 million if they are facing financial difficulties, subject to at least equal private equity investments. The business cannot be eligible for the CBILS, as detailed above. This fund will launch in May 2020, but details can be found here.
As a self-employed person, or member of a partnership, you can apply for three months' worth of support from HMRC which is equivalent to 80% of your average monthly profits. The amount will be calculated using your tax returns from the past three trading years (or less if your business has been formed since the 2016/2017 tax year) and capped at £2500. More details can be found here and the portal is likely to be live mid-May 2020.
If you have received payment in the form of a loan or credit covered by the loan charge, you may be able to claim, but do check the full details here.
Further details for farmers claiming farmer's averaging relief are available here.
The new CLBLIS offers large businesses (annual turnover £45-500million) the opportunity to loan up to £25million, with 80% of the value secured by the government and more can be found more information on the British Business Bank website.
Large businesses which have good financial health, but short term cash-flow issues caused by COVID-19 can sell their short term debt to the Bank of England in the form of a commercial paper. Full details can be found on the Bank of England's website.
It depends, a lot of commercial insurance policies cover a specific list of "notifiable" diseases, and COVID-19 was added to the government's list on the 5th March 2020. Some insurance policies only cover a specific list of notifiable diseases, so it's worth checking the terms and conditions on your insurance policy. Other terms which would be relevant are: government ordered closure, pandemics, and unspecified notifiable diseases.
D2N2 LEP is working together with Futures Career Service to support businesses that are looking to make staff changes due to COVID-19, whether that is redundancies or the requirement for additional staff short or long-term. Full information and contact details can be found on the D2N2 website.
Derby Employment Hub provides a personalised support service to empower participants with the skills, motivation, confidence and training to progress into work. This service is open to individuals who have found themselves out of work due to COVID-19 and we encourage employers who are letting staff go to direct them to the Employment Hub for support during this difficult time.
You can email Derby Employment Hub at DerbyEmploymentHub@derby.gov.uk or telephone 01332 640990.