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The expanding scope of the Coronavirus has created uncertainty and anxiety on a global scale, encompassing both public health and economic impacts. As business leaders around the world grapple with a wide range of questions, Paul Hastings is here to help.

 

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PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

Mar 18, 2020, 05:07 AM
Publication Type(s):
Client Alerts
Exlcude on home page:
No

The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

  1. Support Measures Include:
    • Statutory sick pay relief package for SMEs
      • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
    • Business Rate Relief
      • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
    • Coronavirus Business Interruption Loan Scheme
      • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
    • Covid Corporate Financing Facility (“CCFF”)
      • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
    • Grants
      • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
  2. Comment

    While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

    Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

  3. Action

    In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

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  1. C Programming Assignment Help | Jun 24, 2020
    TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

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    Client Alert

    PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

    Mar 18, 2020, 05:07 AM
    Publication Type(s):
    Client Alerts
    Exlcude on home page:
    No

    The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

    Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

    1. Support Measures Include:
      • Statutory sick pay relief package for SMEs
        • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
      • Business Rate Relief
        • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
      • Coronavirus Business Interruption Loan Scheme
        • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
      • Covid Corporate Financing Facility (“CCFF”)
        • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
      • Grants
        • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
    2. Comment

      While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

      Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

    3. Action

      In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

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    1 comment

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    1. C Programming Assignment Help | Jun 24, 2020
      TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

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      LABOR & EMPLOYMENT

      PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

      Mar 18, 2020, 05:07 AM
      Publication Type(s):
      Client Alerts
      Exlcude on home page:
      No

      The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

      Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

      1. Support Measures Include:
        • Statutory sick pay relief package for SMEs
          • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
        • Business Rate Relief
          • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
        • Coronavirus Business Interruption Loan Scheme
          • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
        • Covid Corporate Financing Facility (“CCFF”)
          • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
        • Grants
          • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
      2. Comment

        While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

        Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

      3. Action

        In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

      IsRss:
      • cares act
      • europe
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      1 comment

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      1. C Programming Assignment Help | Jun 24, 2020
        TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

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        FINANCIAL REGULATION & THE CARES ACT

        PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

        Mar 18, 2020, 05:07 AM
        Publication Type(s):
        Client Alerts
        Exlcude on home page:
        No

        The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

        Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

        1. Support Measures Include:
          • Statutory sick pay relief package for SMEs
            • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
          • Business Rate Relief
            • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
          • Coronavirus Business Interruption Loan Scheme
            • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
          • Covid Corporate Financing Facility (“CCFF”)
            • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
          • Grants
            • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
        2. Comment

          While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

          Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

        3. Action

          In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

        IsRss:
        • cares act
        • europe
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        1 comment

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        1. C Programming Assignment Help | Jun 24, 2020
          TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

          Leave a comment

          ASSET MANAGEMENT

          PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

          Mar 18, 2020, 05:07 AM
          Publication Type(s):
          Client Alerts
          Exlcude on home page:
          No

          The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

          Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

          1. Support Measures Include:
            • Statutory sick pay relief package for SMEs
              • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
            • Business Rate Relief
              • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
            • Coronavirus Business Interruption Loan Scheme
              • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
            • Covid Corporate Financing Facility (“CCFF”)
              • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
            • Grants
              • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
          2. Comment

            While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

            Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

          3. Action

            In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

          IsRss:
          • cares act
          • europe
          • client alerts

          Related professionals

          1 comment

          Leave a comment
          1. C Programming Assignment Help | Jun 24, 2020
            TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

            Leave a comment

            TAX LAW

            PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

            Mar 18, 2020, 05:07 AM
            Publication Type(s):
            Client Alerts
            Exlcude on home page:
            No

            The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

            Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

            1. Support Measures Include:
              • Statutory sick pay relief package for SMEs
                • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
              • Business Rate Relief
                • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
              • Coronavirus Business Interruption Loan Scheme
                • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
              • Covid Corporate Financing Facility (“CCFF”)
                • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
              • Grants
                • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
            2. Comment

              While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

              Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

            3. Action

              In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

            IsRss:
            • cares act
            • europe
            • client alerts

            Related professionals

            1 comment

            Leave a comment
            1. C Programming Assignment Help | Jun 24, 2020
              TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

              Leave a comment

              REAL ESTATE & HOSPITALITY

              PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

              Mar 18, 2020, 05:07 AM
              Publication Type(s):
              Client Alerts
              Exlcude on home page:
              No

              The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

              Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

              1. Support Measures Include:
                • Statutory sick pay relief package for SMEs
                  • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                • Business Rate Relief
                  • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                • Coronavirus Business Interruption Loan Scheme
                  • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                • Covid Corporate Financing Facility (“CCFF”)
                  • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                • Grants
                  • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
              2. Comment

                While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

              3. Action

                In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

              IsRss:
              • cares act
              • europe
              • client alerts

              Related professionals

              1 comment

              Leave a comment
              1. C Programming Assignment Help | Jun 24, 2020
                TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

                Leave a comment

                DISPUTES

                PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

                Mar 18, 2020, 05:07 AM
                Publication Type(s):
                Client Alerts
                Exlcude on home page:
                No

                The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

                Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

                1. Support Measures Include:
                  • Statutory sick pay relief package for SMEs
                    • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                  • Business Rate Relief
                    • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                  • Coronavirus Business Interruption Loan Scheme
                    • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                  • Covid Corporate Financing Facility (“CCFF”)
                    • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                  • Grants
                    • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
                2. Comment

                  While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                  Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

                3. Action

                  In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

                IsRss:
                • cares act
                • europe
                • client alerts

                Related professionals

                1 comment

                Leave a comment
                1. C Programming Assignment Help | Jun 24, 2020
                  TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

                  Leave a comment

                  PRIVACY & CYBERSECURITY

                  PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

                  Mar 18, 2020, 05:07 AM
                  Publication Type(s):
                  Client Alerts
                  Exlcude on home page:
                  No

                  The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

                  Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

                  1. Support Measures Include:
                    • Statutory sick pay relief package for SMEs
                      • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                    • Business Rate Relief
                      • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                    • Coronavirus Business Interruption Loan Scheme
                      • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                    • Covid Corporate Financing Facility (“CCFF”)
                      • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                    • Grants
                      • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
                  2. Comment

                    While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                    Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

                  3. Action

                    In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

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                  1. C Programming Assignment Help | Jun 24, 2020
                    TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

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                    SECURITIES & CAPITAL MARKETS

                    PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

                    Mar 18, 2020, 05:07 AM
                    Publication Type(s):
                    Client Alerts
                    Exlcude on home page:
                    No

                    The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

                    Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

                    1. Support Measures Include:
                      • Statutory sick pay relief package for SMEs
                        • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                      • Business Rate Relief
                        • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                      • Coronavirus Business Interruption Loan Scheme
                        • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                      • Covid Corporate Financing Facility (“CCFF”)
                        • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                      • Grants
                        • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
                    2. Comment

                      While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                      Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

                    3. Action

                      In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

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                    • cares act
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                    1 comment

                    Leave a comment
                    1. C Programming Assignment Help | Jun 24, 2020
                      TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

                      Leave a comment

                      EUROPE

                      PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

                      Mar 18, 2020, 05:07 AM
                      Publication Type(s):
                      Client Alerts
                      Exlcude on home page:
                      No

                      The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

                      Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

                      1. Support Measures Include:
                        • Statutory sick pay relief package for SMEs
                          • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                        • Business Rate Relief
                          • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                        • Coronavirus Business Interruption Loan Scheme
                          • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                        • Covid Corporate Financing Facility (“CCFF”)
                          • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                        • Grants
                          • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
                      2. Comment

                        While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                        Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

                      3. Action

                        In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

                      IsRss:
                      • cares act
                      • europe
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                      1 comment

                      Leave a comment
                      1. C Programming Assignment Help | Jun 24, 2020
                        TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

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                        LATIN AMERICA

                        PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

                        Mar 18, 2020, 05:07 AM
                        Publication Type(s):
                        Client Alerts
                        Exlcude on home page:
                        No

                        The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

                        Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

                        1. Support Measures Include:
                          • Statutory sick pay relief package for SMEs
                            • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                          • Business Rate Relief
                            • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                          • Coronavirus Business Interruption Loan Scheme
                            • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                          • Covid Corporate Financing Facility (“CCFF”)
                            • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                          • Grants
                            • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
                        2. Comment

                          While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                          Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

                        3. Action

                          In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

                        IsRss:
                        • cares act
                        • europe
                        • client alerts

                        Related professionals

                        1 comment

                        Leave a comment
                        1. C Programming Assignment Help | Jun 24, 2020
                          TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

                          Leave a comment

                           

                          KEY INSIGHTS

                          PH COVID-19 Client Alert Series: UK Economic Response to COVID-19

                          Mar 18, 2020, 05:07 AM
                          Publication Type(s):
                          Client Alerts
                          Exlcude on home page:
                          No

                          The UK Government has announced a £330 billion stimulus package to help the business sector survive the impact of the COVID-19 outbreak.

                          Against the backdrop of tumbling financial markets, and following on from the measures announced in the Budget and an emergency cut in interest rates from the Bank of England earlier this month, the UK Government has announced further support for the business community to help it withstand the economic impact of the COVID-19 pandemic.

                          1. Support Measures Include:
                            • Statutory sick pay relief package for SMEs
                              • SMEs (those businesses with 250 employees or less as of 28 February 2020) will be able to reclaim the costs of paying statutory sick pay for up to two weeks for each employee off sick due to COVID-19.
                            • Business Rate Relief
                              • The Business Rates retail discount has been increased to 100% for properties below the £51,000 rateable value and has been extended to the whole of the leisure and hospitality sector.
                            • Coronavirus Business Interruption Loan Scheme
                              • The Coronavirus Business Interruption Loan Scheme announced during the Budget has been extended and the Government has pledged to guarantee up to 80% of loans up to £5 million made to businesses, with no interest due for the first six months.
                            • Covid Corporate Financing Facility (“CCFF”)
                              • For larger businesses, a new commercial paper facility has been announced by the Government and the Bank of England to assist lending. Non-financial institutions that make “a material contribution” to the U.K. economy and (prior to the COVID-19 outbreak) have a short or long term rating of investment grade, will be eligible to issue commercial paper of up to one-year maturity under the scheme. The facility will be offered on terms comparable to market terms available before the COVID-19 outbreak, and has proposed to disregard temporary balance sheet and cash flow impacts caused by the virus.
                            • Grants
                              • Additional funding for local authorities announced at the Budget has been increased to allow local authorities to provide grants of up to £10,000 to support small businesses that already benefit from the Small Business Rate Relief. Further grants of up to £25,000 will be provided to businesses that are unable to claim for the impact of the Coronavirus from their insurer.
                          2. Comment

                            While the size of the support package is unprecedented, questions are already being asked as to whether the measures are sufficiently extensive and go far enough, and whether increasing the debt burden of businesses is the correct response at a time when many businesses have been facing pressures on their balance sheets long before the pandemic began.

                            Measures such as the CCFF are currently time-limited to one year, and with commercial banks and alternative lenders currently pulling funding across a number of sectors, due to the inability of pricing in the risks of COVID-19, the Government may have to reassess the adequacy of these measures. They have however pledged to do whatever it takes to support businesses, both large and small, so the measures announced may indeed be the tip of the iceberg.

                          3. Action

                            In order to take advantage of these programmes, businesses are encouraged to primarily contact Her Majesty’s Revenue and Customs’ (“HMRC”) new dedicated COVID-19 helpline. HMRC has announced that in order to ensure ongoing support, HMRC has made available a further 2,000 experienced call handlers to support firms and individuals with their queries, in respect of the announced measures.

                          IsRss:
                          • cares act
                          • europe
                          • client alerts

                          Related professionals

                          1 comment

                          Leave a comment
                          1. C Programming Assignment Help | Jun 24, 2020
                            TreatAssignmentHelp is dedicated to provide online C Programming Assignment Help for students who is perusing degree or diploma courses in universities. We have 24/7 Customer live support where you can discuss about your troubles with our specialized writers. We pioneer the custom writing industry due to the flair and subject expertise of our pool of writers who promise to deliver 100% plagiarism free papers.For more services : Assignment HelpAssignment Writing ServicesEssay Writing ServicesAssignment Writing ServicesAssignment Writing ServicesEssay Writing Services

                            Leave a comment

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