Dear valued customer,
I hope you and all yours remain safe and well.
As you know we are all adapting to a new way of life and a new way of working.
Myself and my Directors (Simon and Danny) have been working tirelessly to protect our staff, our customers and our business from the health risks and of course the economic impact of this dreadful disease.
In such a time of uncertainty I have leaned on the support of my trade associations such as the Electrical Distributors Association (EDA) for advice and guidance as I have tried to limit the financial burden on my employees and business.
Whilst I’m confident you have access to similar support, I realised that you have the same issues as me and may be just as anxious as me about our future, I thought it maybe useful to you if I shared my links to industry and government advice and share how to access some of the current funding. Attached is an example document for Furlough you may want to use, as well as guidance from HR Consultants (Croner).
L H Electrical Ltd is part of a massive procurement group of hundreds of members, We are part of the EDA and use Croner consulting HR and as such have access to a wealth of experience and support. There has been so much information released by the government and at unprecedented speed, this means institutions like banks simply cannot cope with demand, but if L H Electrical can help in any way at all please don’t hesitate to give me a call. 07974 421107 I hope some of the links below are useful for you.
We are remaining open with strict measures in place and have received letters off some customers such as the NHS thanking us for supporting them during this time.
Retention of Title:
If you are struggling to recover payment this information may help:
Support in accessing the government coronavirus business interruption loan scheme:
Extra protection for businesses with ban on evictions for commercial tenants who miss rent payments:
The original eligibility criteria for deferring the July 2020 Self Assessment payments on account was solely focussed on the self-employed. However, the link below now says (under the heading Support for businesses through deferring Income Tax payments) that a taxpayer does not have to be self employed to be eligible to defer the July 2020 payment on account. Therefore, any individual with a July 2020 payment on account can defer their payment if they wish. Deferring Self-assessment and accessing government retention scheme
There has been an update from HMRC regarding VAT. HMRC have said that they will not charge interest or penalties on any amount deferred. VAT Returns will still need to be submitted on time. HMRC will continue to process VAT reclaims and refunds as normal during this time. If clients choose to defer a VAT payment as a result of coronavirus (COVID-19), they must pay the VAT due on or before 31 March 2021 (rather than 5 April 2021).
VAT due between 20 March 2020 and 30 June 2020 can be deferred until the end of the next tax year. This has been automatically applied by HMRC and there is no need to contact them. However, if you pay by direct debit this requires cancelling or the payment will be taken as usual.
We have had our payments deferred until 19 July 2020 at the earliest. This will cover:
March payroll - due 19/04/20
April payroll - due 19/05/20
May payroll - due 19/06/20
The exact revised timing of the payments will be confirmed with HMRC nearer the due date, but they sounded flexible over the time allowed to clear these.
- Corporation Tax:
At this stage my contact at HMRC suggested that he was only allowed to defer this for three months, but he does not work in the Corporation Tax team. He said that they had all been given powers to extend the due date by three months, but that in order to seek a longer extension you would need to talk directly with the relevant department.
I sincerely hope some of the information is useful to you. I hope that we can help one another through these difficult days and thank you for all your continued support.
Please Keep safe and well.