Covid-19: What can I do now? Plus useful links and numbers:

By 22nd March 2020 COVID-19 No Comments

Published: 18th March 2020

Last updated: 20th March 2020 (morning amendments in italics – text in blue is as at 18:30 (which is mainly a summary of the press conference – we’ll know more as information is released early next week) re: government support – this is one of those unusual situations where we only know info as it’s officially released – which you can also follow using the gov link below

22nd March 2020: Layout changes and amendments.

Remember, we’re all in this together. We can help each other get through it. If you need to talk, just call 01392927647

Top links

Our pages on Government support:

The Governments official pages on pledged support:

Finding your local authority: find my local authority/council

How to apply for universal credit : Universal Credit

HMRC Time to Pay (0800 015 955):

What can I do NOW?:

Obviously financial aid from the Government is going to take time, so if you don’t have the means to do so yourself, you’ll need to prioritise alternative funding to bridge the gap (even if temporarily). You can do this by:

  1. Speaking to your bank – setting up an overdraft or extending an existing one. Even look at a loan (Government backed loans will be available through banks). Do this now – not when you’re down to your last £1.
  2. Speaking to your other lenders. Can you get payment breaks or reduced payments for a short period?
  3. Speaking to your landlord or mortgage provider (business and or personal). Can you get a payment break or reduced payments? Seek advice from a Mortgage Advisor on remortgaging or other options.
  4. Reviewing your debtors (Link: how can I get my debtors to pay me). Speak to them personally. Get a feel for whether they can and will pay. Set up payment plans (direct debits etc). See more here.
  5. Looking at your spending. What can you afford to do without at the moment?
  6. Working out your survival spend for a month. Then work out the cash you have in the bank. Workout how long this will last. We are currently doing this for all clients and will communicate with you on this ASAP. But it’s worth doing this on your personal situation as well as the business.
  7. Not paying tax bills without considering Time To Pay plans (see below) – do this before the tax bill is due (we will help with this where we can, but due to increased demand on this, we may need your assistance too).

Employment Law Helpline:

We have an employment law helpline that you can use for free, as a client of Love Accountancy. Their number is: 08448922807

Say you’re a client of Love Accountancy. You may need the reference tax01. Please let us know the outcome of any conversation.

Use this number if you have any questions or concerns about your obligations and options around staff. If you have an HR advisor, then speak to them too. If you need one, speak to us as we know a few.

Remember, your staff are your business. They’re going to be just as unsure of things as you are, so keep talking to them, be open but try to reassure them. The Government is promising to help employers more, so watch this space and in their own words “stand by your employees”. 

Our advice here is to explore your options, but don’t take drastic action until we’ve seen what further assistance there’s going to be. Certainly don’t take action until you speak with us and an employment law expert.

The Government have promised to pay 80% of wages for employees unable to work (up to £2,500), backdated to the beginning of March. Although earliest it will be available is end of April. Again, short term funding from banks may be needed now (see above “what can I do now?”).

Setting up time to pay scheme for tax bills:

This link gives you all you need to know to set up a payment plan with HMRC for various tax bills – where possible we can help with this (depending on demand):

You can phone HMRC on: 0800 024 1222 (updated April 2020)

Other Useful Links:

Federation of small businesses advice (guidance for employees, financial support and other useful links) :

Remember, we are here for you:

Get in touch (01392927647 or or book a meeting. We’ll be reaching out to you individually as this continues also.

Set up a free consultation meeting Contact us today