CORONAVIRUS: FURTHER SUPPORT ANNOUNCED
On 5 January 2021, further coronavirus support was announced for some businesses. What are the details?
Although many businesses deemed “non-essential” were already closed due to being in Tier 3 or 4 areas over the new year, the Prime Minister’s announcement on 4 January that the whole of England was being placed into a full stay-at-home lockdown (including closing schools to almost all children) still came as a huge blow. The new lockdown is set to last until at least the February half-term, and will be reviewed on an ongoing basis.
Perhaps unsurprisingly, this was quickly followed by an announcement of further support for affected businesses, namely those operating in retail, hospitality and leisure. Scotland had already announced similar national restrictions.
These businesses will be eligible to apply for a new one-off grant. The amount will be determined by the business property’s rateable value as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
Business support of this type is a devolved matter, so it is likely that applications for the new grants will need to be made to local councils - as was the case with the funding made available in November 2020. Businesses should therefore check with their local authority over the coming days as more information is made available.
Related Topics
-
Time off for fertility treatment?
A survey by Fertility Matters at Work has revealed that more than one-third of employees undergoing fertility treatment have resigned or are considering resigning because of the physical and emotional toll. Is there a right to time off for fertility treatment?
-
Was a company buyback of EIS shares tax avoidance?
Two taxpayers used the “purchase of own shares” procedure to extract gains they’d made from enterprise investment scheme (EIS) shares. HMRC said this was unfair tax avoidance, the taxpayers disagreed. What did the Upper Tribunal decide?
-
HMRC’s new compliance check service
HMRC has published a collection of videos and notes to help if you’re picked for a compliance check. Is HMRC’s new service worth a look or is it just official propaganda?