Accurox | Construction and Trades Accountant

On Friday, the chancellor announced new schemes to support businesses that were legally required to close down because of new tighter restrictions.

The new plan is an expansion of the JSS announced last month. The key points are:

  • The plan is aimed at all UK companies that are legally required to shut down because of tighter restrictions
  • These are mainly businesses in the hospitality sector, such as: pubs, bars and restaurants.  This also applies to restaurants or pubs that have to close premises, but can still provide take out or delivery services.
  • Eligible businesses will receive support to pay two-thirds of each employee’s salary, up to a maximum of £2,100 per month
  • Grants designed to help affected businesses pay other fixed costs of up to £3,000 per month will also be available. These grants will be linked to rates as follows:
    • Small businesses with rates up to £15,000 will receive £1,200
    • Small to medium business with rates between £15,000 and £51,000 will receive £2,000 per month
    • Large businesses will receive the maximum grant of £3,000 per month

Winter Economy Plan

All these new measures come days after the chancellor announced his Winter Economy Plan. In that, Rishi Sunak revealed the Job Support Scheme, which would take over from theJob Retention Scheme (due to end a the close of this month).

If you need advice or support in applying for the JSS or on any Covid-19 business matter, don’t hesitate to get in touch.

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