Other Support Available
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The government has brought forward a number of measures to provide a combined suite of reliefs and support for businesses and the self-employed at this time.
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These measures span both business and private spheres and will offer a number of support packages to those suffering due to the coronavirus outbreak.
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On the commercial front, the government have confirmed that their instructions in relation to working arrangements and business closures/ restrictions should be sufficient to trigger relevant pandemic clauses in commercial insurance contracts.
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Commercial tenants renting offices, retail outlets, workshops and production plants, will be protected from eviction in relation to non-payment of rents for the past three months, in order to by certainty of tenure during this difficult time.
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This measure mirrored the protections for domestic tenants previously announced; such renters are assured of a three month protection from eviction.
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Domestic mortgage holders will also be able to contact their lender and request a three month mortgage payment holiday if they are struggling at this time.
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For those in serious financial distress, both the standard universal credit allowance and working tax credit basic element have increased by an additional £1,000 for the next year.
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Self-employed people can claim universal credit at the statutory sick pay rate of £94.25 per week if unable to work due to coronavirus.
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We expect that there will be further such measures announced should the situation continue for longer than the anticipated 12 month approximate significant lockdown period.
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Ask Us For Help
 We are here to help and have set up a dedicated team to help you during this crisis.Â
If you are considering using any of the measures above and would like to discuss this in more detail, please email coronavirus@switchaccountants.co.uk and we will contact you to discuss your exact situation.