The Local Restrictions Support Grant (LRSG (Open)) supports businesses that have been severely impacted due to temporary local restrictions. Businesses that have not had to close, but which have been severely impacted due to local tier 2 or tier 3 restrictions, may be eligible for LRSG (Open).
Guidance has been updated to reflect the extension of the VAT reduced rate for tourism and hospitality from 12 January to 31 March 2021. The government made an announcement on 8 July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies.
If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can pay the deferred VAT in full on or before 31 March 2021; opt into the VAT deferral new payment scheme when it launches in 2021 or contact HMRC if you need more help to pay.
Payment Deferral Or Deregister From Money Laundering Supervision Due To Coronavirus (Covid-19). If you were due to renew money laundering supervision with HMRC between 1 May and 30 September 2020 you were able to either defer payment for up to 6 months or deregister if you stopped trading due to coronavirus
117 lenders have now signed up for the scheme. The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by coronavirus (COVID-19).
29 lenders have now signed up for the scheme. BBL enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus (COVID-19). The scheme helps medium and large sized businesses to access loans and other kinds of finance up to £200 million. The government guarantees 80% of the finance to the lender. The scheme is open to applications until 31 January 2021.
Prime Minister, Boris Johnson, has announced an additional £1,000 Christmas grant for ‘wet-led pubs’ in tiers 2 and 3, who will miss out on turnover during the busy Christmas period. Pubs that predominantly serve alcohol rather than provide food, have been asked to make sacrifices over the festive season and will be eligible for a one-off £1,000 to help make ends meet.
The third grant for SEISS is now open. To make a claim for the grant, your business must have been impacted by coronavirus on or after 1 November 2020. You can make a claim for the third grant if you are eligible, even if you did not make a claim for the first or second.
The Guidance has been updated to reflect that 30 November claims deadline has now passed. There is a new section on holiday pay updated with further clarity on when employees can be furloughed.
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