May 2020

MAY 2020 AFTERMARKET 51 Above: Chancellor of the Exchequer Rishi Sunak www.aftermarketonline.net continue to operate safely and efficiently during these challenging times.” 26 March: Chancellor announces self-employed Coronavirus support Technicians and mechanics who are self-employed looked to soon have a level of support comparable with that offered to employees, following an announcement by Chancellor of the Exchequer Rishi Sunak. He unveiled government grants being made available to the self-employed that represent 80% of their monthly income, up to a total of £2,500. This was being available as a lump sum, and will be available from the start of June to those who have made a 2019 tax return. Those who are eligible will be contacted directly by HMRC. "You have not been forgotten,” Rishi Sunak said as he explained the measures. 27 March: Holiday rules relaxed Garage staff who have not been able to take all of their statutory annual leave due to the Coronavirus outbreak would be able to carry it over into the next two years. Announcing the change, Business Secretary Alok Sharma said “People are working around the clock to help our country deal with the coronavirus pandemic. The changes will mean these valued employees do not lose out on the annual leave they are entitled to as a result of their efforts, and employers are not penalised.” The measures were designed to ensure workers don’t lose their leave entitlement. Currently, almost all workers are entitled to 28 days holiday including bank holidays each year. However, most of this entitlement cannot be carried between leave years, meaning workers lose their holiday if they do not take it. There is also an obligation on employers to ensure their workers take their statutory entitlement in any one year – failure to do so could result in a financial penalty. The regulations will allow up to four weeks of unused leave to be carried into the next two leave years, easing the requirements on business to ensure that workers take statutory amount of annual leave in any one year. The changes will amend the Working Time Regulations, which apply to almost all workers, including agency workers, those who work irregular hours, and workers on zero- hours contracts. 30 March: Business rates relief to garages urged The IGA wrote to Secretary of State for Housing, Communities and Local Government Robert Jenrick MP, urging him to offer business rates relief to garages. In the letter, IGA Chief Executive Stuart James said: “We urgently ask that the government review and expand the Retail Business Rates Relief scheme to include retail businesses that operate from industrial premises such as independent garages, to enable them to stay open for the benefit of our key workers.” 3 April: Access to Coronavirus business loans widened Chancellor Rishi Sunak amended the Coronavirus Business Interruption Loan Scheme, launched just two weeks earlier, following criticism. The changes made it accessible to all small businesses affected by COVID- 19, not just those unable to secure regular commercial financing. In addition, lenders were barred from asking for personal guarantees on loans of less than £250,000. The Chancellor said: “We are making great progress on getting much-needed support out to businesses to help manage their cashflows during this difficult time – with millions of pounds of loans and finance being provided to hundreds of firms across the country.” He added: “This is a national effort and we’ll continue to work with the financial services sector to ensure that the £330bn of government support, through loans and guarantees, reaches as many businesses in need as possible.” There are 40 accredited lenders able to offer the scheme, including all the major banks. The scheme is expected to run for six months initially. There is no limit on the capacity of the scheme. For more information go to: https://www.british- business- bank.co.uk/ourpartners/coronavirus-b usiness-interruption-loan-scheme- cbils-2/current-accredited-lenders-and -partners The long haul As we went to press, the lockdown was extended for a further three weeks, into May. With the country looking like it is in it for the long haul, Aftermarket will continue to provide all the news that’s fit to print and relevant to you and your business. www.aftermarketonline.net