Find out about the expanded Coronavirus help.
Job Support Scheme Changes
The Chancellor has recently announced an expansion to the help that businesses can claim under the Job Support Scheme.
The announcement stated that when a business is forced to close due to local or national restrictions, the Government will pay 67% of the employees’ salaries, up to £2,100 per month for each employee whilst they cannot work.
Under this scheme, the employers won’t have to contribute to wages, and will only have to pay NI and pension contributions.
Businesses can claim this grant only whilst under the restrictions, and employees must be off work for a minimum of seven consecutive days in order to claim.
Like the previous announcement, this scheme begins on the 1st November and will last for six months, with a review in January.
If you aren’t closed due to lockdown then you can still access the scheme where the Government will pay for a third of the hours an employee doesn’t work as long as they work at least a third of their normal hours.
Local Restrictions Support Grant Changes
The Government has also announced increases in the amounts available through the Local Restrictions Support Grant.
Previously, businesses were entitled to up to £1,500 per month for larger companies, and up to £1,000 per month for smaller companies if they were required to shut due to local lockdowns.
Now larger businesses, with a rateable value of over £51,000, can receive up to £3,000 per month.
Medium sized businesses, with a rateable value of between £15,000 and £51,000, can claim up to £2,000 per month.
Smaller businesses, with a rateable value below £15,000, can claim up to £1,334 per month.
These payments will now be made after two weeks, rather than the three weeks previously announced.
The scheme has been expanded to include businesses forced to close due to national lockdown, as well as local lockdown.