As lockdowns continue, many businesses remain affected by the Covid-19 pandemic and in need of financial support. There are various support measures available. Speak to your professional adviser to find out what help is available for you.
New grants were announced at the start of the third National lockdown in England to help businesses such as those in the retail, hospitality and leisure sectors which have been forced to close. Businesses in these sectors are entitled to a one-off grant worth up to £9,000 per property.
Discretionary grants are also available for other businesses.
Grants are available from Local Authorities for businesses affected by local restrictions.
Coronavirus Job Retention Scheme
The Coronavirus Job Retention Scheme (CJRS) will continue to run until 30 April 2021. Employers can claim a grant for 80% of the unworked hours of furloughed and flexibly furloughed staff (capped at £2,500 per month) with which to pay employees.
If you are claiming under the scheme, make sure you do not miss the claim deadline – claims must be made no later than 14 days after the end of the month to which the claim relates. Where this falls on a weekend, the deadline is the next working day.
Self-Employment Income Support Scheme
Self-employed taxpayers who are adversely affected by the Covid-19 pandemic during February, March and April 2021 will be able to claim a fourth grant under the scheme.
This newsletter deals with a number of topics which, it is hoped, will be of general interest to clients. However, in the space available it is impossible to mention all the points which may be relevant in individual cases, so please contact us for personal advice on your own affairs.