23 October

Covid Job Support Package Enhanced Under Tier Two Restrictions - Announced 22nd Oct 2020

Covid Job Support Package Enhanced Under Tier Two Restrictions - Announced 22nd Oct 2020

Business Grants

The funding local authorities will receive will be based on the number of Hospitality, hotel, B&B, and leisure businesses in their area.

Funding amount that will be the equivalent of:

• For properties with a rateable value of £15,000 or under, grants of £934 per month.

• For properties with a rateable value of between £15,000-£51,000, grants of £1,400 per month.

• For properties with a rateable value of £51,000, grants of £2,100 per month.

Local authorities will also receive a 5% top-up amount to these implied grants amounts to cover other businesses that might be affected by the local restrictions. More details awaited

Job Support Scheme Amended

For businesses that have not been legally required to close but which are suffering an impact from tier two restrictions, the JSS rules have been amended. Instead of requiring employees to be brought back for 33% of their original hours, they now need only be employed for 20% of their hours. The employer’s contribution to wage costs under the JSS for those not working has been cut from 33% to 5%, with a business based in all alert levels eligible.

The JSS starts to operate from 1 November and covers all nations of the UK. For every hour not worked, the employee will be paid up to two-thirds of their usual salary. The government will provide up to 61.67% of wages for hours not worked, up to £1541.75 per month (more than doubling the maximum payment of £697.92 under the previous rules). Employers using the scheme will also be able to claim the job retention bonus (JRB) for each employee that meets the eligibility criteria of the JRB, which is worth £1,000 per employee.

Self Employment Income Support Grant Double

Sunak said the government was doubling the Self- Employed income support scheme (SEISS) grant from 20% of previous earnings to 40%, to a maximum of £3750 per month.

Accreditations