These are things we have found out about support options announced already plus some new announcements, there will be continual revisions as government formulate details.
Grants for small businesses:
- Coast to Capital Local Enterprise Partnership have announced £2m worth of grants to small businesses in West Sussex to East Surrey area inc Brighton and Hove.
Can Directors be furloughed?
Yes, they can and it would seem that they can still carry out statutory duties whilst being furloughed so Directors fulfilling their duties for personal service companies may well be able to claim furlough.
- Employees and workers can carry over up to 4 weeks’ holiday into the next 2 holiday year periods.
- Although government has been non-specific about it, it would seem that holidays continue to accrue whilst the employee is on furlough.
Wrongful trading rules have been temporarily suspended.
What is wrongful trading? – where companies continue to trade without being able to pay their debts when they fall due but in hope that still with the intent to pay creditors.
Fraudulent trading is still offence – this is where the directors know that they cannot and will not be able to pay their debts. Clearly the burden of proof for fraudulent trading is much higher.