Important! Adcroft Hilton Coronavirus (COVID-19) Update

Coronavirus Useful Information

You don’t need us to tell you that things are very strange at the moment and I’m sure, like us all here at Adcroft Hilton, the more you think about things, the more questions you come up with.

We’ve decided to try and put together some, hopefully, useful information about how the current situation might affect you or your business.We’ve also put together a list of links to point you towards some additional information and help from a wide variety of organisations.

We will do our utmost to keep this area up to date but I’m sure you’ll understand that things are changing on a daily basis.

We are NOT trying to spread doom and gloom and we are certainly not suggesting anyone should make any decisions only based on the information within these pages. Everyone should take further advice from someone else, be that ourselves, their accountant, solicitor or bank, for instance.

We’ve split the information into two broad sections; individuals and companies. We’ll add and expand on them as more information becomes available.

You can ALWAYS ring us up or email us and ask our advice; you’ll be under no obligation. We’d just like to do our bit to help at this time and you can always buy us a drink after this has all gone away if you think our advice has helped you!

Click the links below to be taken to current resources, financial information and help from the Government and other agencies.

Individuals

This information applies to: self-isolators, people who are ill, anyone laid off or made redundant, freelancers, zero hours contractors, sole traders and other self-employed.

If your income is reduced, because of reduced or no work, our current advice is to:

Contact your mortgage company urgently to ask for a payment holiday

If you rent, ask your landlord if they will reduce your rent for a short period

See if you can agree with credit card companies that they freeze interest and reduce your payments for the next 2-3 months

If you owe tax, speak to HMRC to see if you can agree a deferred payment plan.  You can also ask to reduce yourself assessment payment on account for July if your income has reduced. The HMRC Coronavirus helpline is 0800 015 9559.

Create a personal budget – what you have coming in, and what you spend.  Look at your spending to see if there is anything you can cut back on

Try to avoid borrowing more unless you know you will have the income to repay the debt (for example if you know you will receive a redundancy payment)

Check your entitlement to benefits www.gov.uk/benefits-calculators has links to sites that you can use

Talk to your accountant to understand what your business and/or personal finances look like

If you are worried about debts mounting up, please don’t feel isolated.  Speak to us about what options might be available to you. You’ll be under no obligation and we’re completely impartial.

Links For Individuals

Here is a list of links to some useful information aimed at individuals. Things are changing on a daily basis so please keep checking back here. We’ll try to keep these links as up to date as possible.

UK Government Coronavirus guidance for employees

Useful, regularly updated page with Government information

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-guidance-for-employees


Department for Work and Pensions (DWP)

Coronavirus support page for employees and benefit claimants

https://www.gov.uk/government/news/coronavirus-support-for-employees-benefit-claimants-and-businesses


Money Advice Service – the service sponsored by the DWP to provide people in the UK with unbiased financial information to help them make informed financial decisions.

Coronavirus – what it means for you.

https://www.moneyadviceservice.org.uk/en/articles/coronavirus-what-it-means-for-you


Business Debtline – help for sole traders.

National Debtline -a charity providing free debt advice.

Coronavirus help and support

https://www.nationaldebtline.org/EW/factsheets/Pages/coronavirus-advice-and-support/help-and-advice.aspx


StepChange – the charity dedicated to helping individuals with debt problems.

Coronavirus page

https://www.stepchange.org/debt-info/debt-and-coronavirus.aspx


Turn2us – national charity providing practical help to people who are struggling financially.

support page

https://www.turn2us.org.uk/About-Us/News/Coronavirus-information-and-support

Links For Businesses

Here is a list of links to some useful information aimed at businesses. Things are changing on a daily basis so please keep checking back here. We’ll try to keep these links as up to date as possible.

 

UK Government sites

UK Government Coronavirus guidance for businesses

Useful, regularly updated page with Government information

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-through-the-coronavirus-job-retention-scheme


Support for businesses

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses


Business support and finance hub

https://www.gov.uk/business-finance-support


HMRC tax helpline

https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19


HM Treasury, Bank of England, Covid Corporate Financing Facility

https://www.bankofengland.co.uk/news/2020/march/hmt-and-boe-launch-a-covid-corporate-financing-facility


HM Treasury, Covid-19 and bank lending

assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/875266/COVID_19_and_Bank_Lending__25_March_2020_.pdf


British Business Bank Coronavirus business interruption loan scheme

https://www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance-guarantee/


Business Debtline – help for sole traders andbusinesses

https://www.businessdebtline.org/EW/factsheets/Pages/coronavirus/advice-and-help.aspx


UK Finance- COVID-19 information

https://www.ukfinance.org.uk/covid-19


Association of British Insurers- Insurance coverage Q&A

https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa/


Confederation of British Industry – support for businesses impacted by coronavirus

https://www.cbi.org.uk/articles/supporting-businesses-impacted-by-the-coronavirus/


Institute of Directors- advice and resources for directors

https://www.iod.com/news-campaigns/news/articles/COVID-19-coronavirus-advice-and-resources


Federation of Small Businesses- advice and guidance for small businesses and the self -employed

https://www.fsb.org.uk/campaign/covid19.html

For Simple, FREE, Step By Step Advice, Call Adcroft Hilton Today on: 01253 299399