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Lockdown #3 Goverment Support for Businesses

Chancellor Rishi Sunak has announced another support package for the business which is mainly targeting those close during the lockdown and effected most. However other businesses, self employed and employers are also getting additional grants or extension of existing support such as furlough and self employed support.

Businesses in the retail, hospitality and leisure sectors are to be given a one-off grant worth up to £9,000 to help them while they have to close during England's Covid-19 lockdown, Chancellor Rishi Sunak has announced.

The payments will cost the Treasury £4.6 billion and are aimed at helping support the high street as new lockdown measures announced on Monday take hold.

Mr Sunak also announced a further £594 million for local authorities and devolved administrations to support businesses not eligible for the grants.

So how can I qualify for the £9,000 grant for my business? Around 600,000 retail, hospitality and leisure sites will be able to claim a one-off grant of up to £9,000 the government has announced.

£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

Businesses can apply through their Local authority, if you need help please get in touch with us from our email, telephone or WhatsApp numbers and ask for Komal.

Is this new grant instead of the grant for businesses forced to close?

The new one-off grants come in addition to grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.

Can I still be put on furlough and has it changed?

Last year it was announced that the Coronavirus Job Retention scheme was extended to April.

Under the furlough scheme, employers can claim 80% of an employee’s usual salary for hours not worked, up to a maximum of £2,500 per month. However eligibility criteria hasn't been changed if you are not sure of your business' eligibility please get in contact with our PAYE department.

Earlier in the year firms had to top up furloughed wages by 20%, with the government paying 60%.

The state now puts in the full 80%, with the employer only covering pension and National Insurance contributions.

Is this the same for Scotland, Wales and Northern Ireland?

The grant amount announced by the chancellor may be different for Scotland, Wales and Northern Ireland as business support is a devolved matter so each nation may offer different grants/support schemes for businesses than in England.

We are here to help, howver we cannot accept any face to face meetings or walkins to our offices all our members of staff are still able to provide you with the normal services. Please email us, WhatsApp us or call us on our telephone number.

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