COVID-19
Update 7 January 2021
Following the recent lockdown, we wanted to wait a couple of days to collate all support available. At present the only change was in relation to lockdown grants but we have also provided a refresher on a couple of other key dates for the other schemes. Please also take note of point 5 on the Job Retention Bonus.
- Lockdown Grants
What is it?
A one-off top up grant for retail, hospitality and leisure businesses which are legally required to close, and which cannot operate effectively remotely.
How much can I get?
It is once again linked to the rateable value of your property.
- £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
How and when do I apply?
You should apply to your local authority so keep an eye on their website. No confirmed dates yet.
Are there any further discretionary amounts available as previously?
A further £594 million is also being made available for Local Authorities to support other businesses not eligible for the grants, that might be affected by the restrictions. Once again watch your Local Authority website.
- Additional Restrictions Grant
Some local authorities are still distributing funds from this grant. Each LA has their own criteria, dates and application process so again please check their website to ensure there is nothing you are eligible for that you have not yet claimed.
REMINDERS
- Self-Employment Income Support Scheme
Dates. The third grant closes for applications on 29 January 2021. Details of the fourth grant have not yet been published.
Key Eligibility Criteria We wanted to remind you that your business must have had a new or continuing impact from coronavirus between 1 November 2020 and 29 January 2021, which you reasonably believe will have a significant reduction in your profits.
We won’t repeat all the other details of this scheme but if you need a copy of our earlier update that covered this then please let us know.
- Job Retention Scheme
Dates. December claims must be submitted by 14 January.
Nature of the scheme. The scheme continues to be fully flexible in terms of how many hours per day or week you wish to furlough your staff.
Period of Scheme. The scheme was extended before Christmas to the 30 April 2021.
Parents and Carers. You can furlough someone if they have caring responsibilities resulting from coronavirus, such as caring for children who are at home as a result of school or childcare facilities closing.
We won’t repeat all the other details of this scheme but if you need a copy of our earlier update that covered this then please let us know.
- Job Retention Bonus
As highlighted in previous updates this bonus was removed when the JRS was extended. This bonus will not be paid.
Any further questions please contact us below.
This article is written for the general interest of our clients and is not a substitute for consulting the relevant legislation or taking professional advice. The authors and the firm cannot accept any responsibility for loss arising from any person acting or refraining from acting on the basis of the material included herein.
