Happy New Year! Hopefully we are now on the third and final lockdown journey.

Whilst this period means yet more strain on business finances, there is cash support available over the next few months and we are here to help guide you through this.

Here is a summary of the current business support available during lockdown:

On 17 December Chancellor Sunak announced that the coronavirus job retention scheme (CJRS) would be extended to 30 April 2021. Remember the deadline for submitting funding requests under the CJRS is 14 days after the end of the calendar month the wages were paid for, so by 14 January 2021 for wages relating to periods in December 2020.

Alongside the additional support for furloughed workers, Sunak confirmed that all businesses would be able to apply for the COVID-19 Business Interruption Loan Schemes until 31 March 2021.

These Government back loans generally have no interest payable in the first year, and the smaller Bounce Back Loans require no repayments at all in the first 12 months.

This week the Chancellor announced further support for businesses in England in the retail, leisure, and hospitality sectors which are forced to close because of the national lockdown. These businesses will receive a one-off grant from their local authority depending on the rateable value of their business premises:

business support funding

When those businesses are permitted to open again, they will be able to apply for a grant of £2,100 per month.

Also the deadline for submitting a claim for the third SEISS grant is midnight on 29 January 2021. There is still no information about the promised fourth SEISS grant.

Please visit our website to find out more about the government support packages available right now or email us directly: ba@robson-laidler.co.uk