- In the difficult times of the Coronavirus pandemic, the UK economy was hugely impacted resulting in many adverse effects to many small and large businesses
- With many people losing their jobs or being placed on ‘furlough’. The pandemic resulted in lockdown and many self-employed people were unable to work as shops, malls, restaurants, and other small businesses were unable to operate.
- People on sick leave were also suffering salary cuts making day to day life very difficult for all.
- The UK’s leading Government agency had to step in immediately to support the economy and the generic public in this time of need. To do this, they worked with the government to devise a series of schemes to support the country – pivotal to the well being of the economy and general public.
What we did:
- Corona virus Job Retention Scheme (CJRS) to provide payments to employers made in respect of incurring costs of employment for ‘furloughed’ employees so they are able to continue employment without actually being able to go to work
- Self-Employment Income Support Scheme (SEISS) – Government establishes claimant’s trading profits and non-trading income if the person is self-employed or a member of a partnership and had been adversely affected by coronavirus. The claimant could get a taxable grant based on the average trading profit over the 3 tax years: 2016 to 2017, 2017 to 2018, 2018 to 2019.
- Statutory Sick Pay Rebate (SSPR) - If the employee is self-isolating or staying at home because they are at high risk of severe illness from corona virus, they are able to claim £95.85 per week Statutory Sick Pay.
- Eat Out to Help Out (EOTHO) - To kick-start the UK economy again once lockdown had been lifted, the Government came up a unique scheme where the general public can visit participating bars, restaurants and cafés and claim up to 10% of the amount or to a maximum of £10 per person.
Save for Later Download Case Study