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Supporting UK Businesses

Important Update

It was announced over the weekend, by the UK Government, that the Coronavirus Job Retention Scheme has been extended until December with employees receiving 80% of their current salary for hours not worked and further economic support announced.

Job Retention Scheme

  • Employers small or large, charitable or non-profit, are eligible for the extended Job Retention Scheme, which will continue until December.
  • Businesses will have the flexibility to bring furloughed employees back to work on a part-time basis or furlough them full-time, and will only be asked to cover National Insurance and employer pension contributions which, for the average claim, accounts for just 5% of total employment costs.
  • The Job Support Scheme, which was scheduled to come in on Sunday 1st November, has been postponed until the furlough scheme ends.
  • Additional guidance will be set by the UK Government in the coming days.

Business Grants

Businesses required to close in England due to local or national restrictions will be eligible for 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.

Full details of this announcement can be found on the UK Government site via this link.

Specialist support from Hentons

We have specialists dealing with the specific reliefs and issues being faced by our clients. Please feel free to contact the relevant areas of expertise:

  • For all Payroll queries, including the Job Support Scheme email Jess Haunch

  • For all VAT and Tax queries, including time to pay for all taxes Greg Langley

  • For all CBILS, Bounce Backs Loans and other business funding, queries please contact Tim Baum-Dixon.