Sites reopening but support remains in place
14th May 2020 | Hudson Contract
Building firms are steadily returning to sites but financial support from the Government remains in place to help companies hit by the lockdown.
Here, Hudson Contract summarises the latest available measures, including loans, tax relief and cash grants:
- The Government has extended the Coronavirus Job Retention Scheme until the end of October, allowing employers to claim for the wages of furloughed staff.
- Firms can claim back Statutory Sick Pay paid to employees due to coronavirus and covers all types of employment contracts.
- HMRC is allowing the deferral of VAT and self-assessment tax payments to help companies and individuals affected by coronavirus.
- SMEs can access finance of up to £5 million from the Coronavirus Business Interruption Loan Scheme.
- If SMEs need to access finance more quickly, they can apply for the Bounce Back Loan Scheme.
- Large businesses can access loans of up to £25m through the Coronavirus Large Business Interruption Loan Scheme.
Meanwhile, the Government has published guidance for working safely in construction and in people’s homes during coronavirus.
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