COVID-19

content coming soon – under construction

Including: –

  • Tax measures
  • Financial support for charities
  • General financial (and other) support
  • Fundraising
  • Accounting and reporting

You can also access copies of all our COVID-19 related newsletters and articles in the side bar archive.


Tax measures

The Coronavirus Job Retention Scheme

All UK employers will be able to obtain a reimbursement of 80% of furloughed employees’ wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Furloughed means an employee who would otherwise be laid off or dismissed. Furloughed employees must not carry out any work for the employer read more

Deferred VAT and Income Tax payments

VAT payments will be deferred from 20 March 2020 until 30 June 2020, and taxpayers will be given until the end of the 20/21 tax year to pay any liabilities that have accumulated during the deferral period. For Income Tax Self-Assessment, payments due on 31 July 2020 will be deferred until 31 January 2021 read more

Statutory Sick Pay for employees

Employees who are eligible for Statutory Sick Pay (SSP) and who are self-isolating as a result of COVID-19 will be entitled to SSP from day 1 read more

Sick pay for the self-employed and employees not eligible for SSP

The self employed and employees not entitled to SSP can now more easily make a claim for Universal Credit or new style Employment and Support Allowance read more

Statutory Sick Pay for employers

Employers with fewer than 250 employees on 28 February 2020 will be entitled to a refund for up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19 read more

Business rates for retail, hospitality and leisure businesses

Occupied hereditaments in England used wholly or mainly as shops, restaurants, cafes, drinking establishments, cinemas, live music venues, for assembly and leisure, as hotels, guest & boarding premises and self-catering accommodation will be entitled to a business rates holiday for the 20/21 tax year. In addition such premises with a rateable value of up to £51,000 will be entitled to a cash grant of £10,000 per property if the rateable value is under £10,000, and £25,000 if the rateable value is between £10,000 and £51,000. Local authorities will write to businesses who are eligible for the grant read more

Support for nursery businesses that pay business rates

Hereditaments in England occupied by providers on Ofsted’s Early Years Register which are wholly or mainly used for the provision of the Early Years Foundation Stage will be entitled to a business rates holiday for the 20/21 tax year read more

Support for businesses that pay little or no business rates

Small businesses that already receive small business rate relief (SBBR) or rural rate relief (RRR) will be entitled to a one off grant of £10,000 to help meet their ongoing business costs read more


Financial support for charities

Arts Council emergency funding package

The Arts Council has announced an emergency funding package for National Portfolio Organisations, organisations outside of the National Portfolio and individuals read more

London Community Response Fund

The Greater London Authority and various charity funds have launched a new fund to support London’s voluntary sector read more

Scottish Government Third Sector Resilience Fund

Part of a £350m support package by the Scottish Government for the sector in response to the Coronavirus pandemic, the Third Sector Resilience Fund will support organisations across the third sector who are at risk of closure due to a sharp decrease in income or that are unable to deliver their services directly as a result of the Coronavirus pandemic read more


Other financial support

Coronavirus Business Interruption Loan Scheme

SMEs will be able to access loans of up to £5 million in value and for up to 6 years. The government will pay the first 12 months of interest payments and any lender-levied fees and guarantee 80% on each loan read more

COVID-19 Corporate Financing Facility

The Bank of England will buy short term debt from larger companies read more


Other support

Insurance claims

Businesses that have cover for both pandemics and government-ordered closure should be covered for any insurance claims read more

Support for residential tenants and landlords

Landlords will not be able to start proceedings to evict tenants in social or private rented accommodation for at least a 3 month period. Landlords whose tenants are experiencing financial difficulties due to coronavirus will be entitled to a 3 month mortgage payment holiday read more

Protection from eviction for commercial tenants

Commercial tenants who cannot pay their rent because of COVID-19 will be protected from eviction. No business will automatically forfeit their lease and be forced out of their premises if they miss a payment up until 30 June. There is the option for the government to extend this period if needed read more


Fundraising

Fundraising Regulator: COVID-19 advice on fundraising

The Fundraising Regulator has provided COVID-19 guidance on person to person fundraising, direct marketing and cancelling fundraising events. If event related donations have already reached the charity, it may need permission from its charity regulator in order to provide a refund read more


Accounting and reporting

Companies House: Coronavirus guidance for companies

If your accounts will be late because your company is affected by COVID-19, you can apply for an automatic and immediate 3 month extension to file your accounts. You must apply before your filing deadline. If you do not apply for an extension and your accounts have been filed late, an automatic penalty will be imposed read more

Charity SORP Committee: COVID-19 control measures and financial reporting by charities

The SORP-making body has published guidance for trustees and preparers of charity accounts looking at the potential impact of the control measures to contain COVID-19 on financial reporting by charities. The guidance considers the implications for the trustees’ annual report, going concern and the alternative basis to going concern when preparing accounts under the SORP read more

Charity Commission COVID-19 guidance for the charity sector

Trustees should record any decision to cancel or postpone AGMs and other critical meetings. Where the situation impacts on the completion of annual returns and accounts, charities with an imminent filing date should call the Charity Commission. Charities should record any decision to hold meetings virtually or via conference calls read more

Charity Commission: Filing charity annual returns during the coronavirus pandemic

Charities must ring the Charity Commission if they wish to request a filing deadline extension read more

OSCR: Charities and Coronavirus: An update from the regulator

OSCR state ‘We understand that it might be difficult for some to finalise your annual reports and accounts on time we will take an understanding and proportionate approach to this. Serious incident reporting does not need to be at the very top of your list. Making sure you have the time and space with your fellow trustees to make the right decisions for your organisation is the main thing to be thinking about’ read more