Chamber News

In light of the increased restrictions the UK government is introducing additional economic and business support measures:

The Coronavirus Job Retention Scheme: The Coronavirus Job Retention Scheme, also known as the furlough scheme, has been extended to December 2020. Check to find:

• Which employees you can put on furlough to use the Coronavirus Job Retention Scheme
• If you can claim for your employees’ wages using the Coronavirus Job Retention Scheme
• What steps you need to take before calculating your claim
• Find out how much you can claim.
• For information on claiming for wages through the scheme click here.

The Job Support Scheme will not be introduced until after Coronavirus Job Retention Scheme ends.

Self-Employment Income Support Scheme Grant Extension:  The grant is being extended from 1 November 2020. The grant will be increased from the previously announced level of 40% of trading profits to 80% for November 2020. Find out if you are eligible and how much you can get.

Business Grants: Business premises forced to close in England due to local or national restrictions will be eligible for the following:

• For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
• For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
• For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

Business grant policy is fully devolved. Devolved Administrations will receive Barnett consequentials which they could use to establish similar schemes.

Loan schemes: application deadlines extended to January 31 2021: The application deadlines for the coronavirus Bounce Back Loan, Coronavirus Business Interruption Loan, Coronavirus Large Business Interruption Loan Scheme and coronavirus Future Fund have been extended  until 31 January 2021.

To support the tightening Covid-19 restrictions due to come into effect on 05 November.  The Government has announced the following support mechanisms:

• An extension to the Coronavirus Job Retention Scheme until 2 December
• More generous support to the self-employed and paying that support more quickly
• Cash grants of up to £3,000 per month for businesses which are closed o £1.1 billion for councils to enable them to support businesses more broadly over the coming months, as a key part of the local economy
• Plans to extend existing Loan Schemes and Future Fund to the end of January and an ability to top-up Bounce Back Loans o An extension to the mortgage payment holiday for homeowners
• Providing councils with up to £500m of funding to support the local healthcare response

To read the full details on the support being implemented click here.

The Self-Employment Income Support Scheme Grant Extension provides critical support to the self-employed in the form of two grants, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021.

1. Who can claim

To be eligible for the Grant Extension self-employed individuals, including members of partnerships, must:

• have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
• declare that they intend to continue to trade and either:
  • are currently actively trading but are impacted by reduced demand due to coronavirus
  • were previously trading but are temporarily unable to do so due to coronavirus

2. What the Grant Extension covers

The extension will last for six months, from November 2020 to April 2021. Grants will be paid in two lump sum instalments each covering a three-month period.

The first grant will cover a three-month period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant covering 40% of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £3,750 in total.

The Government are providing broadly the same level of support for the self-employed as is being provided for employees through the Job Support scheme.

The second grant will cover a three-month period from 1 February 2021 until 30 April 2021. The Government will review the level of the second grant and set this in due course.

The grants are taxable income and also subject to National Insurance contributions.

3. How to claim

The online service for the next grant will be available from 14 December 2020. HMRC will provide full details about claiming and applications in guidance on GOV.UK in due course.

Commenting on the announcement of additional support for the self-employed for the month of November, as additional restrictions in England are set to come into force, Chris Sargisson, CEO of Norfolk Chambers said:

 “Additional support for the self-employed will provide relief for many, but it should have been announced at the same time as the furlough scheme extension in order to give sole traders greater confidence.

“Bringing the Self-Employed Income Support Scheme in line with the extended furlough scheme will help many through a period of hardship and closure. New grants, paid faster than previously planned, and extended loan schemes, will also help to ease cashflow concerns. However, Ministers must immediately consider extending the support on offer for a longer period, given the difficult winter ahead.

“Despite this extension, there are still many businesses and individuals who have through no fault of their own not yet been able to access any government support since the start of the pandemic. They too will require help to sustain their businesses and avoid further increases in unemployment.”

On Saturday evening the Prime Minister announced new restrictions from Thursday 05 November.  He advised that Covid-19 cases were rising rapidly across the whole of the UK and in other countries and he must act now to control the spread of the virus.

The new measures will apply nationally for four weeks up to Wednesday 2 December.  At the end of the period, the government will look to return to a regional approach, based on the latest data.

Mr Johnson advised that complying with the new measures will help limit the spread of coronavirus, reduce the impact on the NHS and save lives. They will be underpinned by law which will make clear about what you must and must not do from 5 November. The relevant authorities, including the police, will have powers to enforce the law – including through fines and dispersing gatherings.

This will all be debated and voted on in Westminster on Wednesday.

Find out how these restrictions may impact on your business:

Contents

1.     1. Stay at home

2.     2. Staying safe outside the home (Social Distancing)

3.     3. Meeting with family and friends

4.     4. Businesses and venues

5.     5. Weddings, civil partnerships, religious services and funerals

6.     6. Going to work

7.     7. Going to school, college and university

8.     8. Childcare and children’s activities

9.     9. Protecting people more at risk from coronavirus

10.  10. Visiting relatives in care homes

11.  11. Travel

12.  12. Financial support

The new measures will apply nationally for four weeks up to Wednesday 2 December. At the end of the period, the government will look to return to a regional approach, based on the latest data.

Complying with the new measures will help limit the spread of coronavirus, reduce the impact on the NHS and save lives. They will be underpinned by law which will make clear about what you must and must not do from 5 November. The relevant authorities, including the police, will have powers to enforce the law – including through fines and dispersing gatherings.

Commenting on the announcement, Nova Fairbank, Head of Policy for Norfolk Chambers of Commerce said:

There’s no getting around the fact that these new restrictions will be a devastating blow to business communities who have done everything in their power to adapt and operate safely. 

 “Business and market confidence have been hit hard by the unclear, stop-start approach taken by government over the past eight months, with little end in sight.

“Many firms are in a much weaker position now than at the start of the pandemic, making it far more challenging to survive extended closures or demand restrictions. 

“The temporary extension of the furlough scheme will bring short-term relief to many firms, and it responds to Chambers’ call for business support to be commensurate with the scale of the restrictions imposed. While there is no substitute for a functioning economy, the full financial support package for businesses facing hardship, whether through loss of demand or closure, must immediately be clarified and communicated. Sustained help must be available to employers, to the self-employed and to the many businesses and individuals that have not been able to access any of the government’s schemes to date.   

“The Government must not squander the time afforded to them through another lockdown to enable mass testing and fix Test and Trace systems – which hold the key to a lasting exit strategy for both public health and the economy. 

“Norfolk Chambers will be examining the detail of new restrictions and support carefully over the coming days, together with Chamber business leaders across the whole of the UK.  Our business community will judge them on whether they are clear and evidence-based – and on whether businesses are able to see when these restrictions may come to an end.” 

Coronavirus Job Retention Scheme (CJRS) is set to end on 31 October 2020 and in recognising the ongoing impact Coronavirus is having on businesses, the UK government announced the launch of the Job Support Scheme (JSS) to take affect from 1 November 2020 to last for 6 months. The JSS applies to current staff whether previously been on furlough or not and requires them to be retained on shorter hours by agreement.

The criteria for this scheme significantly differs from the CJRS and on 22 October 2020 the UK government announced new JSS Open and JSS Closed schemes.

JSS Open will help reduce the financial cost to the employer in employing employees who would otherwise be at risk of redundancies and thus increasing the cost to the UK government. It is aimed at the protection of viable jobs in businesses who can operate safely but are facing lower demand over the winter period due to Coronavirus to avoid mass redundancies

JSS Closed will apply where the employer has been legally required to close the premises as a direct result of Coronavirus restrictions set by one or more of the four UK governments

Norfolk Chambers along with our colleagues at Quest, have developed Job Support Scheme (JSS) FAQs which will be updated as further information becomes available.

From 1 January 2021, there will be a series of guaranteed changes that businesses need to make.

Many of these changes will be required regardless of the agreement the UK reaches with the EU on our future trade relationship, as the UK will be leaving the single market and customs union.

You need to check what will change for your business from 1 January 2021 and take action now, to ensure you are not at risk.

The UK Government has put together a checklist of actions that are relevant to your sector to help you to start identifying what your business needs to do.   They have provided a summary for each action, explaining why your business needs to act and where you can find further information.

New Anglia Enterprise Advisor Network are looking for employers to create a short video (maximum of 10 mins) about their organisation and the jobs/roles that could be available for students leaving school. The videos will be used during tutor times and school assemblies to help widen students awareness of different employers and jobs.

Below are some questions to help guide businesses when creating their video:

Introduction

• Who are you?
• Where do you work/what is your job/role?
• What skills/qualifications are important for your job?
• Interesting/fun fact about you?

Education background

• What school did you go to?
• What subjects did you choose and why?
• Who was your favourite teacher and why?

Career Path

• What did you do when you left school (what was the journey to get to your role)?
• What do you love most about your role?
• What progression is there within your role?

Hints/tips

• If you could give your younger self one piece of advice when at school what would it be?
• What has been the most valuable learning during your career?

If you have any questions, or wish to submit at video, contact Ashley Ruthven – Senior Enterprise Coordinator: [email protected]

This week businesses are being urged not to get caught out by new rules at the end of the Brexit transition period by both the Prime Minister and Chancellor of the Duchy of Lancaster, Michael Gove. But what does that mean for your business?

At present businesses have free movement of their goods into/out of Europe, however on 01 January 2021, you will need to produce international trade documentation for all your products both imported and exported to/from the EU.

Whether you are an importer or an exporter, deal or no deal, you will need to do things differently from 01 January 2021 and that means you need to step up your Brexit preparations now, to ensure you are fully ready to meet the coming changes.

To ensure that your business is ready to meet the new UK import/export regulations on 01 January 2021, you need to have considered the following ten key areas:

1. Do you have an EORI number starting with GB?
2. Who is currently moving your freight and who do you currently use to process your customs declarations?
3. Who’s currently holding the liability for your declarations? (direct/indirect representation)
4. Do you have an international team?  What is the level of expertise in that team?
5.  When did you last review or check your commodity/tariff codes?
6. What is the likely volume of your imports/exports from the EU?
7. Which ports/airports do you use?
8. Do you have your own deferment account with HMRC?
9. Are your imported goods liable for excise duty?
10. Do your import/export goods require licences, health certificates or dangerous goods notifications?

Norfolk Chambers has also been gearing up to meet the expected demand from these changes.  We now have trained expert Chamber Customs staff to provide both support and advice, as well as the processing of customs declarations for both import and exports.

It is expected that in early 2021, there is likely to be considerable constraints on the capacity for processing customs documentation across the whole of the UK.  As such, we are encouraging you now to make sure you are prepared to meet the challenge of Brexit. 

Depending on your preparations, we may be able to offer you the opportunity to secure some of Norfolk Chambers’ processing capacity for your customs declarations.

To secure your capacity, we will need some detailed information about your importing and exporting needs and we will need to ‘on-board’ you into the Chamber Customs system.

To find out more about securing Customs Declaration capacity for your business, please contact:

Andrea Wilson            [email protected]

Julie Austin                 [email protected]

Nova Fairbank            [email protected]

Or call: 01603 625977

Please find attached the new July to September 2020 edition of the Norfolk Economic Intelligence Report.

In this quarter’s issue you can read about:

• Page One: £2.225m Tourism Sector Support Package:  Great Yarmouth Operations and Maintenance Campus
• Page Two: Norfolk Economic Snapshot
• Page Three: Internet of Things (IoT) Network Launch:  Cybersecurity events:  Rise! A recovery conference for food and drink producers: Agri Food Intelligence and Feasibility Research
• Page Four: Planning for the Future:  Transport East
• Page Five: Recruit – Retain – Reward:  Agri-food – Developing Skills Provision
• Page Six: Bid Writing Workshops

The Norfolk Economic Intelligence Report is produced by the Growth and Development team at Norfolk County Council, and reflects economic activity in Norfolk during these last three months.

Commenting on the Chancellor’s announcement of further support for businesses and jobs as Coronavirus restrictions increase, BCC Director General Adam Marshall said:

“This is a very significant improvement in the support available to businesses struggling with the impact of increasing restrictions across the UK.

“Chambers have been campaigning for greater support for businesses experiencing big falls in demand as a result of new restrictions, and a number of the steps announced today, including the lowering of employer contributions and the number of hours worked needed to qualify for the scheme, respond directly to our calls.

“Backdated grants for hospitality firms in tier two and enhanced grants for the self-employed will go some way to alleviating pressure on many of those who have been particularly vulnerable to the economic impact of the pandemic.

“Chambers have called for support to be truly commensurate with the restrictions imposed on businesses as part of our five tests for Coronavirus measures. The true test of these reforms will be whether they help businesses on the ground get through the difficult months ahead. Chambers of Commerce will continue to work with the Treasury to ensure that support is responsive and preserves businesses and livelihoods.” 

Also commenting on Rishi Sunak’s announcement today, Nova Fairbank, Head of Policy for Norfolk Chambers of Commerce said:

“Whilst Norfolk remains in the lowest Tier – Medium Risk and therefore does not currently qualify, we do welcome the availability of additional support, should Norfolk’s risk increase and further restrictions.  We are particularly pleased that our hospitality and leisure sector and the self-employed have also been given more support.”

Commenting on the launch of the government’s ‘time is running out’ campaign, urging businesses to prepare for the end of the transition period, BCC Director General Adam Marshall said:

“Facing the triple threat of a resurgent Coronavirus, tightening restrictions and a disorderly end to the transition period, it is little wonder businesses are struggling to prepare. Many firms will be tired of posturing, cliff edges and deadlines, while others are still grappling with fundamental challenges as a result of the pandemic.

“More businesses will undoubtedly step up preparations for change over the coming weeks, but many are still facing unanswered Brexit questions that have a big impact on their day to day operations.

“A UK-EU deal is still both possible and critically important.  No matter what happens, businesses will have to change. But we need a deal that supports businesses and jobs, and final clarity over what changes they must make.”