Businesses and hospitality
From April 12:
- Indoor leisure (including gyms) will re-open.
- Outdoor hospitality will re-open.
- Outdoor attractions such as theme parks and zoos will re-open.
- All retail and personal care (e.g. hair salons) will re-open
- Libraries and community centres will reopen.
On March 3, 2021, the Chancellor made a number of announcements in the budget designed to support jobs and livelihoods:
- The Coronavirus Job Support Scheme extended to September 2021.
- Self Employment Income Support scheme extended to September 2021, with 600,000 more people who filed a tax return in 2019-20 now able to claim for the first time.
- An extension to the temporary cut in Stamp Duty Land Tax until September
- £5 billion for new Restart Grants – £6,000 for Non-essential retail per premise and a one off cash grant of up to £18,000 for hospitality, accommodation, leisure, personal care and gym businesses in England.
- A new UK-wide Recovery Loan Scheme to make available loans between £25,001 and £10 million, and asset and invoice finance between £1,000 and £10 million, to help businesses of all sizes through the next stage of recovery.
- Extension to the VAT cut to 5% for hospitality, accommodation and attractions across the UK until the end of September, followed by a 12.5% rate for a further six months until 31 March 2022.
- Six-month extension of the £20 per week Universal Credit consisting of a one-off payment of £500 to eligible Working Tax Credit claimants across the UK.
- Extension of the Film & TV Production Restart scheme in the UK, with an additional £300 million to support theatres, museums and other cultural organisations in England through the Culture Recovery Fund.
- 750,000 eligible businesses in the retail, hospitality and leisure sectors in England will benefit from business rates relief. 100% for a further 3 months until end of June 2021 then two thirds for 9 months.
- Extension of the apprenticeship hiring incentive to September 2021 and an increase of payment to £3,000.
- £7 million for a new “flexi-job” apprenticeship programme, that will enable apprentices to work with a number of employers in one sector.
- Additional £126 million for 40,000 more traineeships in England, funding high quality work placements and training for 16-24 year olds in 2021/22 academic year.
- More than doubling the legal limit for single contactless payments, from £45 to £100
- £300 million for major spectator sports, supporting clubs and governing bodies in England as fans begin to return to stadia.
- Small and medium-sized employers in the UK will continue to be able to reclaim up to two weeks of eligible Statutory Sick Pay (SSP) costs per employee from the Government.
- To further support the cashflow of businesses, the government is extending the loss carry back rules worth up to £760,000 per company.
- £100 million for a new Taxpayer Protection Taskforce to crack-down on COVID fraudsters who have exploited UK Government support schemes.
- Extending £500 Test and Trace support payments in England until the summer.
- Around 130,000 small and medium sized businesses will be supported through the new Help to Grow scheme, which will provide the digital and management tools and training. Any small business can apply for a £5,000 grant to pay for Government-approved productivity software.
Wherever you live, you may be able to get financial help:
- financial support packages for businesses
- financial support for closed businesses as a result of tiering restrictions
- claim for employee wages through Coronavirus Job Retention Scheme
- check if you can claim a grant through the Self-Employment Income Support Scheme
- financial support if you’re off work because of coronavirus
On January 5, the chancellor announced additional measures to support businesses.
Information from Business Bolton on funding, government guidance and business support tools during the coronavirus pandemic can be found online or you can sign up to the newsletter to be sent the latest information.