We have summarised below all the financial support currently available for you and your business, from the government during the Coronavirus pandemic.
If you are unsure if you meet the criteria for any of the schemes and need further assistance, please contact us at the office on 01724 848343.
- Top-up grants for retail, hospitality and leisure businesses: Further financial support was announced on 5 January 2021 for businesses to be able to claim top up grants.
IMPORTANT: If you have already applied for the Closed/Discretionary Grant payment in November, you will automatically be entitled to the top up grant.
For businesses under North Lincolnshire Council, who haven’t yet applied for the discretionary scheme, please click here and apply for the grant payment. For businesses under North Lincolnshire Council, who haven’t yet applied for the closed business grant, please click here and apply for the grant payment.
If you are not based in North Lincolnshire, please contact your local authority and they will be able to advise you.
- Self-Employment Income Support Scheme (SEISS): Claims for the third grant must be made by 29 January 2021. It is not yet known when applications for the fourth grant will open and close.
- Coronavirus loan schemes: 31 March 2021 (final application date).The deadline applies to Bounce Back Loans (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS) & Coronavirus Large Business Interruption Loan Scheme (CLBILS).
- Coronavirus Job Retention Scheme Extended (CJRS): 30 April 2021 is when the scheme ends for furloughing of employees. Currently, the government are funding 80% of furloughed employees wages and are not contributing towards the employer’s national insurance or pension contributions. For more information click here.
- VAT reduced rate for hospitality and tourism: The reduced 5% rate is due to end 31 March 2021.
- VAT Deferral New Payment Scheme: Any VAT returns with a liability during the period March to June 2020 were deferred for payment until March 2021. However, if you need a further extension, you can apply from HMRC for an extension up to March 2022.
- Job Retention Bonus: The original Job Retention Bonus scheme has been cancelled.
- Enhanced Time to Pay for Self-Assessment taxpayers: Using HMRC’s Time to Pay facility, you can pay your January 2021 tax liability across 12 months. You will need to apply for this before 31st January 2021.
For further information on any of the above schemes, please visit the HMRC website, or alternatively click here