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COVID-19: Guidance & Resources

If you are an MIA member please log in and visit your dedicated COVID-19 update page here and your dedicated 'Return to Work' guidance page here for information to help employers and employees navigate the return to work. Both pages include additional support, advice and community opportunities. 

The recent outbreak of COVID-19 has presented a changing work environment for businesses across the UK. To help the motorsport industry during this unprecedented situation the MIA has created this page to provide updates from government and key industry stakeholders.

The MIA, as an accredited trade association, is representing the motorsport industry, participating in relevant government and industry forums, and having direct channels of communication with key government departments such as the Department for International Trade and the Department for Business, Energy and Industrial Strategy.

Government Support

Winter Economy Plan:

Job Support Scheme

From 1 November this scheme will be introduced to protect viable jobs in businesses who are facing lower demand over the winter months due to coronavirus. Employers will continue to pay the wages of staff for the hours they work - but for the hours not worked, the government and the employer will each pay one third of their equivalent salary. Employees must be working at least 33% of their usual hours. The level of grant will be calculated based on employee’s usual salary, capped at £697.92 per month. The Job Support Scheme will be open to businesses across the UK even if they have not previously used the furlough scheme. More information here.

 

UPDATE 09.10.2020- Job Support Scheme expanded to firms required to close due to Covid Restrictions. More details here.

 

Self-employment income support scheme

The Government is continuing its support for millions of self-employed individuals by extending the Self Employment Income Support Scheme Grant (SEISS). An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to coronavirus. A further grant will be available for self-employed individuals to cover the period from February 2021 to the end of April. More information here.

 

Tax cuts and deferrals

Business who deferred their VAT bills will be given more breathing space through the New Payment Scheme, with option to pay back in smaller installments. Self-assessment taxpayers benefit from a separate additional 12-month extension from HMRC on the “Time to Pay” self-service facility, payments deferred from July 2020, and those due in January 2021, will now not need to be paid until January 2022. 

 
Giving businesses flexibility to pay back loans

• Bounce Back Loans - option to repay loan over a period of up to ten years through a new Pay as You Grow flexible repayment system. Interest-only periods of up to six months and payment holidays will also be available.

• Coronavirus Business Interruption Loan Scheme - lenders will be given the ability to extend the length of loans from a maximum of six years to ten years if it will help businesses to repay the loan.
 
Extension of the Coronavirus Business Interruption Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme, the Bounce Back Loan Scheme and the Future Fund to 30 November 2020 for new applications.
 
Previous Coronavirus Financial Support:

 

Coronavirus Business Interuption Loan Scheme (CBILS)

A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch next week to support primarily small and medium sized businesses to access bank lending and overdrafts. For more detail on eligilbiity, providing partners and further information please visit the British Business Bank website here. 

New Coronavirus Large Business Interruption Loan Scheme (CLBILS)

CLBILS will ensure that more firms are able to benefit from UK government-backed support during this difficult time. It will provide a UK government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million. More information here.

Support for larger firms through the COVID-19 Corporate Financing Facility

Under the new Covid-19 Corporate Financing Facility, the Bank of England will buy short term debt from larger companies. More information available via the Bank of England here.

Coronavirus Job Retention Scheme

UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis. HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Read here about updates that could save businesses an extra £300 a month for each employee under the scheme. 

The government’s Coronavirus Job Retention Scheme will remain open until the end of October, the Chancellor announced today (Tuesday 12 May 2020).

Update 1 June 2020: From 1 July 2020, businesses will be given the flexibility to bring furloughed employees back to work part time.The scheme updates mean that the following will apply for the period people are furloughed:

  • June and July: The UK Government will pay 80% of wages up to a cap of £2,500 as well as employer National Insurance (ER NICS) and pension contributions. Employers are not required to pay anything.
  • August: UK Government will pay 80% of wages up to a cap of £2,500. Employers will pay ER NICs and pension contributions – for the average claim, this represents 5% of the gross employment costs the employer would have incurred had the employee not been furloughed.
  • September: UK Government will pay 70% of wages up to a cap of £2,190. Employers will pay ER NICs and pension contributions and 10% of wages to make up 80% total up to a cap of £2,500. For the average claim, this represents 14% of the gross employment costs the employer would have incurred had the employee not been furloughed.
  • October: UK Government will pay 60% of wages up to a cap of £1,875. Employers will pay ER NICs and pension contributions and 20% of wages to make up 80% total up to a cap of £2,500. For the average claim, this represents 23% of the gross employment costs the employer would have incurred had the employee not been furloughed.

More information available here. At step by step guide for employer claims is now available here.

Find out here how to pay all or some of your grant back if you've overclaimed through the Coronavirus Job Retention Scheme.

 Job Retention Bonus

The Job Retention Bonus is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31 January 2021. The bonus will provide additional support to retain employees. More information and eligibility rules are available here.

Coronavirus Bounce Back Loan scheme

The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. The scheme will be available from 4 May 2020 - more information here.

Self-employment Income Support Scheme (SEISS)

SEISS will support self-employed individuals (including members of partnerships) who have lost income due to coronavirus (COVID-19). You can claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for 3 months. This scheme is being extended. You’ll be able to make a claim for a second and final grant in August 2020 For more information on claiming please click here. 

Filing Accounts

From today (25 March 2020), businesses will be able to apply for a 3-month extension for filing their accounts.This joint initiative between the government and Companies House will mean businesses can prioritise managing the impact of Coronavirus. More information available here.

Tax Helpline

New HMRC helpline launched to help businesses concerned about paying their tax due to coronavirus (COVID-19). For more information please click here.

VAT Deferral

For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal. Businesses still need to submit their VAT return on time and cancel any direct debit with their banks. More information available here.

Small Business Grant Funding

This will provide a one-off grant of £10,000 to eligible businesses to help meet ongoing business costs. For more information and eligibility criteria please click here.

Statutory Sick Pay Rebate

The government will bring forward legislation to allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. For more information please click here.

Commercial Insurance

Most commercial insurance policies are unlikely to cover pandemics or unspecified notifiable diseases, such as COVID-19. However, those businesses which have an insurance policy that covers government ordered closure and pandemics or government ordered closure and unspecified notifiable disease should be able to make a claim (subject to the terms and conditions of their policy). Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Further information is available here.

Check which expenses are taxable if your employee works from home due to coronavirus (COVID-19)

Find out what equipment, services or supplies are taxable if your employees are working from home due to coronavirus (COVID-19) on the government website here.

Government amends insolvency law to help companies keep trading while they explore options for rescue

This includes: A moratorium for companies giving them breathing space for from creditors enforcing their debts for a period of time whilst they seek a rescue or restructure; Protection of their supplies to enable them to continue trading during the moratorium; and; A new restructuring plan, binding creditors to that plan. Find out more here.

Upcoming webinars by Government and non-government partners.

UK Government’s Business Support Website has a list of upcoming webinar events from Government and non-government partners. More information here.

Coronavirus COVID-19 Statutory Sick Pay Rebate Scheme - HMRC Webinars

Coronavirus Job Retention Scheme – How to make a claim - HMRC Webinars

Working Safely - 8 different webinars based on different work environments

Billion pound support package for innovative firms hit by coronavirus

The package includes a £500 million investment fund for high-growth companies impacted by the crisis, made up of funding from government and the private sector. SMEs focusing on research and development will also benefit from £750 million of grants and loans. More information here.

Free online learning platform to boost workplace skills

A new online learning platform to help boost the nation’s skills while people are staying at home, has been launched today by Education Secretary Gavin Williamson.Free courses are available through The Skills Toolkit.

Treasury cut taxes to reduce PPE costs

From tomorrow (1 May 2020), PPE purchased by care homes, businesses, charities and individuals to protect against Covid-19 will be free from VAT for a three-month period.

National Cyber Security Centre (NCSC) Covid-19 SME Guidance

NCSC has today published guidance to support businesses moving from physical to digital delivery as part of the ongoing Covid-19 response. The guidance has been created specifically to support businesses who are relying more heavily on IT services to run their business.

ICO - Data protection and coronavirus information hub

The ICO have published data protection advice for organisations, including case studies and key steps for employers to take. There’s also advice around data protection and working from home. Click here to visit the hub.

Support for university research and innovation during coronavirus (COVID-19)

The UK’s research work plays a vital role in our economic prosperity but is at risk from a range of income losses as a result of coronavirus. More information on support available here.

Coronavirus support for business from outside government

Public bodies, organisations and charities have produced additional resources that may be useful to employers and employees which you can view here.

Thousands of business advisers to offer free services to small firms

Thousands of expert professional and business services advisers have signed up to offer free online advice to help small businesses bounce back from coronavirus (COVID-19). More information here.

Government Guidance

As we receive advice and guidance from UK government we will share this with MIA members. Please see the below links for recent updates, some of these guidance pages are being updated multiple times a day. Please regularly review for the most recent information.

UK Business Support Finder Tool

Coronavirus (COVID-19) support is available to employers and the self-employed. You may be eligible for loans, tax relief and cash grants.Use this business support finder to see what support is available for you and your business.

This guidance will assist employers and businesses in providing advice to their staff on: the novel coronavirus, COVID-19, how to help prevent spread of COVID-19, what to do if someone has symptoms of COVID-19 has been in business settings and eligibility for sick pay. Click here for videos and webinars to learn more about the support available.

  • Reopen your business safely during coronavirus (COVID‑19) - Employers that want to reopen their business have a legal responsibility to protect their employees and other people on site.Use this guidance to help you carry out a risk assessment and make sensible adjustments to the site and workforce.
  • Business Secretary leads economic recovery roundtables - Follow the link to view the organisations that participated in the roundtables alongside the questions that participants were asked to address.The outputs from these roundtables will feed directly into the government’s work on economic recovery.

From 8 June, there will be new rules in place for entering the UK because of coronavirus (COVID-19). The rules are for residents and visitors. Please click the above link for more information and exemptions.

  • Supporting your employees during coronavirus: domestic abuse

As an employer, you can play an important role in reassuring staff that they can still leave their home if they are experiencing domestic abuse and that there is still support available. Share this important message with staff using the information provided in this pack. 

The fraud threat posed during emergency situations is higher than at other times, and all public bodies should be attuned to the risks facing their organisations and the public sector.

This document is a specification of the minimally clinically acceptable ventilator, along with some preferred options, to be used in UK hospitals during the current coronavirus (COVID-19) outbreak. (23 March 2020)

It is already clear that in these exceptional circumstances, authorities may need to procure goods, services and works with extreme urgency. Authorities are permitted to do this using regulation 32(2)(c) under the Public Contract Regulations 2015.

Department for International Trade

UK Export Finance (UKEF) has expanded the scope of its Export Insurance Policy (EXIP) meaning UK businesses will now be eligible to secure export insurance cover to all major markets.

We also recommend you read the guidance for UK businesses trading internationally which you can find here.

Opportunities

  • General offers of help such as logistics, medical devices, food, hand sanitiser, garments should fill in this form on the government website.