Extended Government Support

As I am sure you are aware, the government announced on Saturday 31st October that we will be going into another lockdown from this coming Thursday 5th November. This lockdown, like the first, will require all non-essential shops, pubs, bars and restaurants to close.

Due to this, the government announced that they are going to be extending the Coronavirus Job Support for another two months. This means that the scheme that was due to end on the 31st October, will now be open until December 2021. This also means that the Job Support Scheme that was due to start on the 1st November, has been postponed until the CJRS ends.

Employers will now receive 80% of employees salaries of their current salary, for hours not worked up to a maximum of £2,500. This is the same as what was paid out in August, so is more generous than what was received in October. Employers will still be responsible for paying employers NI and pension contributions.

Some employees that weren't eligible for the scheme before, may now be eligible as employees have to have been included on an RTI submitted to HMRC before 23:59 on 30th October 2020. This means employees missed before should now be able to be claimed for.

In addition to this, business premises forced to close in England are to receive grants worth up to £3,000 per month under the local restrictions support grant.

Businesses will be eligible for either of 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.

The Government have also pushed back the deadline for applications to government-backed loans like the bounce back loan until the 31st January 2021.

13 views0 comments

Recent Posts

See All

© 2020 by Revis & Co Accountancy Services Ltd

02392 640746

You can view our privacy policy here

Registered in England & Wales. Company number 04742358