HMRC’s Time to Pay Arrangements
HMRC have expanded their existing Time to Pay arrangements. These expanded arrangements aim to assist businesses that have been affected by COVID-19 to defer their tax payments (including PAYE and VAT) and agree payment by instalments. HMRC have set up a helpline to specifically to deal with this: 0800 024 1222.
Finance
Most banks have committed to offering loan repayment holidays aswell as temporary emergency loans and overdrafts. If you have existing bank lending or find your business in need of finance, then please contact your bank as soon as possible.
Insurance
Insurance policies should be checked for cover and if necessary insurance brokers should be contacted. The Government has announced that if leisure/hospitality/retail businesses have insurance which covers pandemics then they will be able to claim due to the measures recently introduced by the Government to prevent people meeting in pubs, clubs, theatres and other hospitality, leisure and retail venues. If you require assistance with any such claims then please get in touch with your usual Dodd & Co contact
