Self Employed Businesses Employees COVID-19 Capital Grant Scheme

Support For
BUSINESSES

Businesses across the UK are being provided with additional financial support following the announcement of new national restrictions from Thursday, 5th December.

 

Additional Support For Business During National Restrictions

Businesses across the UK are being provided with additional financial support following the announcement of new national restrictions from Thursday 5th November.

Job Retention Scheme

The Coronavirus Job Retention Scheme, also known as the furlough scheme, will now run until the end of March with employees receiving 80% of their current salary for hours not worked.

The scheme was initially extended until 2 December, but the government is now going further so that support can be put in place for long enough to help businesses recover and get back on their feet.

There are currently no employer contribution to wages for hours not worked.

Employers will only be asked to cover National Insurance and employer pension contributions for hours not worked.

This extension will be reviewed in January to examine whether the economic circumstances are improving enough for employers to be asked to increase contributions.

Business Grants

Business premises forced to close in England could receive grants worth up to £3,000 per month
under the Local Restrictions Support Grant.

Businesses required to close in England due to local or national restrictions will be eligible for the
following:

  • For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
  • For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
  • For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.