Coronavirus Updates

Grant schemes to support businesses in the hospitality, accommodation, leisure, personal care and gyms – up to £18,000 per premises, based on rateable value and for non-essential retail businesses, up to £6,000. Payments from local authorities and they will commence from 1 April (when previous schemes end)

Recovery loans are taking over from CBILS and BBL – loans between £25,000 and £10m per business. Invoice and asset finance facilities between £1,000 and £10m per business

An extension to the business rates holiday for retail, hospitality and leisure businesses amounting to 100% comes to an end. After that businesses will pay a third of rates until the end of the year.

Support for the self employed until 31 July 2021, including those who are ‘newly’ self employed.

Based on 80% of the last 3 months trading profit up to £7,500. This will include anyone who has filed their 2019/20 tax return by midnight on 2 March 2021.

CJRS has been extended to 30 September 2021 – nothing change for employees, employers will contribute 10% from July and 20% from August and September.

5% reduced VAT rate extended for hospitality, accommodation and attractions is extended to end of September, moving to 12.5% until 31 March 2021.