Description

Newry BID have been lobbying for support schemes for our members during this challenging period. Regular updates will continue to be issued, and members will be informed on proposed government strategies to help businesses through the current Covid-19 crisis.

Please see updates below:
GOV.UK has published the following summary page for Businesses & Employers: https://www.gov.uk/government/news/covid-19-guidance-information-for-ni-businesses-employers

Specific to Northern Ireland
nibusinessinfo.co.uk has collated all those support schemes that are relevant to NI here: Coronavirus: Newswww.nibusinessinfo.co.uk/coronavirus

nibusinessinfo.co.uk is working on a (downloadable) quick-reference guide featuring all support available to NI businesses.

Headlines:
For your information there is clarity on the £10k grant. Account NI intend to start paying eligible businesses for whom they have bank details today Monday. Businesses don’t need to do anything. If Account NI do not have bank details you will be asked to upload bank details and the link will be promoted via  www.nibusinessinfo.co.uk.
A reminder that eligibility was businesses with a net annual value of up to £15,000 and who qualify for Small Business Rates Relief will receive a grant of £10k.

There is a £25k grant also. A reminder eligibility was the retail, tourism and hospitality sectors will receive a £25k grant if they have a rateable value of between £15k and £51k.

Coronavirus Job Retention Scheme – 80% of gross pay to a maximum of £2.5k per month paid for PAYE employees. Does not apply to self-employed. HMRC will run the scheme. Employers can reemploy workers recently made redundant.

Business Interruption Loan Scheme – first 12 months now interest free not just 6 months. Loan value remains up to £5m.

Universal Credit – increased by £20 per week.

Details on the Business Support Grant Schemes today from DfE, will be published here:www.nibusinessinfo.co.uk/content/coronavirus-business-support-grant-schemes

Related Posts

Business
March 30, 2020
We are aware that many members premises are now vacant in light of recent government advice. The BID has therefore ...
Featured
March 26, 2020
We are pleased to confirm that Land & Property Services will be making automatic payments to those eligible ...
Business
March 25, 2020
Answers to frequently asked questions to offer guidance in responding to the coronavirus disease, COVID-19 ...
X