06.01.2021: Lockdown support announced 5th January
As you may have heard already, the Chancellor announced that the Government will be offering businesses in the retail, hospitality and leisure sectors grants to help during this 2021 lockdown.
The new cash grant will be provided on a per-property basis and the one-off payment will be granted to closed businesses as follows.
£4,000 for businesses with a rateable value of £15,000 or under
£6,000 for businesses with a rateable value between £15,000 and £51,000
£9,000 for businesses with a rateable value of over £51,000
For businesses that do not fall into the sectors mentioned above and are not required to close but are struggling financially due to COVID can apply for a discretionary grant to assist with ongoing premises costs.
These grants are on top of the grant’s businesses are currently receiving for being closed.
As with previous grants, these will be issued by your local authority so please do check their website for details on how to apply. We are unable to make applications on behalf of clients but will assist you in providing any financial data that might be required. If you have not done so already, then please do sign up to your local authority update emails so you know when applications open.
The CJRS has been extended until 30th April 2021, any employees that were on an RTI submission by 30th October 2020 are eligible and 80% of salaries up to £2,500 per month will be covered by the government. Flexi-furlough is also available and there are no minimum periods in place.
Employers NI and pension costs will need to be covered by the employers.
SEISS 4th Grant
The government are yet to announce any further details of the 4th self-employment income support scheme, however, given that business have been required to closed we are hopeful that this will be issued at 80% again. If you have not yet applied for your 3rd grant then please do so by 29th January 2021 as this is the deadline and you will not be able to claim after this date.
The chancellor has confirmed that the 2020 budget that was postponed from November 2020 will now be published on 3rd March 2021. We expect this to contain any further financial support for businesses to help them recover from the pandemic.
Please do get in touch if you would like clarification on any of these points or have any further questions.
The DA Team x