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Financial Help

Last Updated: 1st April

The Government has a created an unprecedented set of support measures to help companies and individuals through these challenging times.  Good quality information is the first thing we need to help us find a way through any financial difficulties we might have.

If you are a local business the first point of call for emergency measures announced by the government to support businesses is:

Government Website 

This webpage provides details on how to access a range of key measures introduced by the government including:

  • Coronavirus Job Retention Scheme
  • Deferring VAT and Income Tax payments
  • Statutory Sick Pay relief package for SMEs
  • 12-month business rates holiday for all retail, hospitality and leisure businesses in England- accessible via Cheshire East
  • Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief- accessible via Cheshire East
  • Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000- accessible via Cheshire East
  • Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
  • A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
  • The HMRC Time To Pay Scheme

The same website also includes details on the Self Employment Income Support Scheme announced on 26th March.

This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed.

You can apply if you’re a self-employed individual or a member of a partnership and you:

  • Have submitted your Income Tax Self Assessment tax return for the tax year 2018-19
  • Traded in the tax year 2019-20
  • Are trading when you apply, or would be except for COVID-19
  • Intend to continue to trade in the tax year 2020-21
  • Have lost trading/partnership trading profits due to COVID-19
  • Your self-employed trading profits must also be less than £50,000

Here in Congleton those businesses that are members of the East Cheshire Chamber of Commerce are receiving updates via the Chamber. If you are a member and wish to contact them for support and advice email jackie.randles@eastcheshirechamber.co.uk

Inevitably there will still be some individuals affected who are not covered by any of the measures above. However, there will still be actions you can take to minimise your outgoings and protect your income.

If you run a small business or are a sole traderthe Association of Independent Professionals and Self Employed have advice on their website including up to date information related to the postponement of IR35. They are also petitioning Government to create a temporary income protection fund for the self-employed.

The Federation of Small Businesses also has up to date advice for SMEs and the self-employed including a useful webinar.

With regard to our personal and domestic finances Martin Lewis’s highly regarded Money Saving Expert website is a good first call to help you understand the implications on things as wide ranging as rent payments, mortgage payments, credit cards bills and travel insurance.

It is also good practice to talk to your bank or building society as early as possible to make sure that any overdraft or borrowing you might incur is formally arranged and at the lowest possible cost. All the main banks and building societies now have online application processes for mortgage and loan payments holidays.

Here in Congleton we also have the Congleton Community Credit Union. If you are a member of the Credit Union you are eligible for small, short term loans at preferential interest rates. However, you must have been saving with them for 12 weeks to be eligible. You can contact the credit union at cccu.treasurer@cw124ts11.com

Similarly, if you think you may be unable to meet any income tax liabilities, contact HMRC as early as possible, as you may be eligible for their Time to Pay Service.

For many, our Council Tax Bill is one of our largest domestic bills and Cheshire East have now confirmed support for those that need to defer their council tax payments or may be eligible for further relief. If you are already receiving Council Tax Support you will receive an additional £150 deduction per annum.

If we are spending more time at home our energy usage may well go up and so it is a good time to review who we use as our energy provider by using one of the many market comparison sites such as USwitch.

If you think you are going to have difficulty paying your current gas and electricity bills. The government has launched an emergency package with energy suppliers to ensure you don’t face any additional hardships in heating or lighting your home during the coronavirus outbreak. If you are struggling with money problems or are repaying a debt, options will include:

  • Reviewing bill payment plans, including debt repayment plans
  • Payment breaks or reductions in how much you pay
  • Giving you greater time to pay
  • In some cases access to hardship funds

No credit meters will be disconnected during the outbreak.

If you think you can’t afford to pay for any extra gas or electricity used because you’re having to self-isolate at home, support will be available through your energy supplier.

Your supplier must take into account how much you can afford and will explain your options. The OFGEM website has more information.

If you are a business finding it hard to pay your bills check out the Citizens Advice Small Business Guide

Many of our local charities and voluntary organisations will be working very hard to support the most vulnerable in the community and at the same time be worried about their financial security. Whilst some of the Government measures will help charities there has been no specific advice issued for them yet. Congleton Town Council remains committed to supporting our local charitable organisations and their amazing volunteers and we will be boosting our grant scheme and working with other local grant providers to make access to more substantial grants available when they are most needed. Contact us by email on: info@congleton-tc.gov.uk

Where to go next

Do you need information about COVID-19?

Do you need help? Can you offer help?

Do you need information on local health services?

Shopping and deliveries in Congleton?

Want to keep up your hobbies and social life whilst ‘social distancing’?

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