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.

These measures span both business and private spheres and will offer a number of support packages to those suffering due to the coronavirus outbreak.

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.

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.

This measure mirrored the protections for domestic tenants previously announced; such renters are assured of a three month protection from eviction.

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.

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.

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.

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.

Ask Us For Help

 We are here to help and have set up a dedicated team to help you during this crisis. 

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.