This afternoon the government have announced that additional support will be available to support those businesses that are required to close as a result of coronavirus restrictions. These measures will be available for the period through to 30 April 2021. Whilst the South West has yet to be affected by such stringent measures, the end of April is a long way off, so it is pleasing to note that some additional support will be made available if required.
The two key measures are:
1. Expansion of the Job Support Scheme (JSS)
Businesses whose premises are legally required to shut for some period over winter as part of local or national restrictions will receive grants to pay the wages of staff who cannot work. The government will support eligible businesses by paying two thirds of each employees’ salary (or 67%), up to a maximum of £2,100 a month.
Under the scheme, employers will not be required to contribute towards wages and only asked to cover employer national insurance and pension contributions.
The scheme will begin on 1 November and will be available for six months, with a review point in January. In line with the rest of the JSS, payments to businesses will be made in arrears, via a HMRC claims service that will be available from early December.
2. Cash grants for business that are required to close
In addition to expansion of the JSS, the government is increasing the cash grants to businesses in England shut in local lockdowns to support with fixed costs. These grants will be linked to rateable values, with up to £3,000 per month payable every two weeks. Small businesses with a rateable value of or below £15,000 can now claim £1,300 per month; medium sized businesses with a rateable value between £15,000 and £51,000 can claim £2,000 per month; and larger businesses can claim £3,000.
For further information, please do not hesitate to contact me or your local Thomas Westcott office.
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