Reminder of available support for businesses as we prepare for the national lockdown

Over the last few weeks, numerous schemes have been announced to support businesses that are suffering due to lockdown restrictions. This is a summary of these schemes. Further detail can be found on our Covid-19 Update feed.

Lockdown grants

Grants of £934 to £2,500 per month for businesses required to close in the Hospitality and Leisure industries. Further grants, were being paid by local authorities every three weeks for businesses in local lockdowns.

I expect more clarity from the government on how much businesses can claim in grants due to the national lockdown. There are lots of small schemes running alongside each other at the moment and I believe that the government will simplify this before Thursday.

Other support

Grants of up to 80% of wages for employers to keep staff who cannot work on furlough.

Self-employed will get a grant of 40% x 3 months profits, in December.

VAT, self-assessment and other tax payments can be deferred further. Either by contacting HMRC or via online portals expected to be available early next year.

Other Insights

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