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<p>The Government has announced an unprecedented package of support for businesses
and individuals affected by Covid-19, and remains committed to doing whatever it takes
to support the economy as necessary.</p><p> </p><p>UK VAT registered businesses, including
charities, can defer VAT payments due with their VAT returns between now and the end
of June. No UK VAT registered business will have to make a VAT payment alongside their
VAT return to HMRC in that period. They will have until the end of the financial year
to repay.</p><p> </p><p>The Government will also give all eligible retail, hospitality
and leisure businesses in England a 100% business rates holiday for the next 12 months.
The Government also extended the support available to individuals and businesses,
including a package of government-backed and guaranteed loans, which make available
an initial £330 billion of guarantees – equivalent to 15% of GDP.</p><p> </p><p>For
Income Tax Self-Assessment, payments due on the 31st of July 2020 will be deferred
until the 31st of January 2021.</p><p> </p><p>Under the Coronavirus Job Retention
Scheme, employers (including charities) can put workers on temporary leave and the
government will pay them cash grants of 80% of their wages up to a cap of £2,500 a
month, providing they keep the worker employed. They will receive the grant from HMRC,
covering the cost of wages backdated to 1 March 2020.</p><p> </p><p>Statutory Sick
Pay (SSP) will be available for those unable to work because they are self-isolating
in line with government advice; this is on top of the Prime Minister’s announcement
that SSP will be payable from day 1 instead of day 4 for affected individuals. Support
will be available through Universal Credit and Contributory Employment and Support
Allowance for those not eligible for SSP.</p><p> </p><p>HMRC have scaled up their
Time to Pay offer to all taxpayers, including charities, who are in temporary financial
distress as a result of Covid-19 and have outstanding tax liabilities. Taxpayers can
contact HMRC’s dedicated Covid-19 helpline to get practical help and advice on 0800
0159 559.</p><p> </p><p>The Chancellor will continue to review and make further announcements
as events unfold if required.</p>
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