Recovery Loan Scheme
The Bounce Back Loans and CBILS program are coming to an end. A new Recovery Loan Scheme will take their place from April. Businesses of any size can apply for the loans from £25,000 to £10m through to the end of this year. The government will provide an 80% guarantee to lenders.
New Restart Grant
From April 2021, a new grant will be available to help businesses to reopen. Non-essential retail will get £6,000 per premises. Hospitality and leisure including personal care and gyms will get £18,000 per premises. If your business is eligible for the previous grants available you should apply as soon as possible before 31 March 2021, […]
Business Rates Holiday Extended
Eligible retail, hospitality and leisure properties will pay no business rates for three months from 1 April to 30 June 2021. From 1 July 2021, business rates will be discounted, by a further 66% business rates relief until 31 March 2022
VAT Reduced Rate Extended
The reduced 5% rate of VAT for goods and services supplied by the tourism and hospitality sector has been extended to 30 September 2021. To help support businesses further there will be a transitional rate of 12.5% from 1 October to 31 March 2022 with the standard rate of 20% applying from 1 April 2022. […]
Further Support For Self Employed – Extension Of The Self Employment Income Support Scheme
The fourth taxable grant will cover 80% of average trading profits, capped at £7,500. The fourth grant will take into account 2019 and 2020 tax returns and will be open to those who became self-employed in the tax year 2019/2020. Eligibility for the scheme will be based on the tax return submitted for 2019/2020 which […]
Coronavirus Job Retention Scheme Extended Until End September 2021
The furlough scheme will continue in its current form until 30 June 2021, furloughed workers will continue to receive up to 80% of their wages for the hours not worked. From 1 July 2021, employers will contribute towards the costs of unworked hours, starting with 10% in July, 20% in August and September. The scheme […]
Business Evictions Ban Extended Until March 2021
The government has extended a ban on evictions of commercial property tenants until the end of March 2021, in a move that will be welcomed by struggling restaurant owners and retailers. A moratorium on business evictions was introduced earlier this year to help businesses ride out the virus crisis, and had been extended to 30 […]
England – Closing Certain Businesses And Venues In England
There is updated information about business and venue closures in England, reflecting the introduction of local restriction tiers that came into effect on 2 December 2020. See here for details.
England – Local Restriction Support Grant (For Open Businesses)
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). Eligible businesses may be entitled to a cash […]
Vat: Reduced Rate For Hospitality, Holiday Accommodation And Attractions
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 relating to: hospitality hotel and holiday […]
