As a result of the rapidly rising COVID-19 cases across the UK, on Thursday 5th November the government has issued a second national lockdown until Wednesday 2nd December. It is understood that we must act now to control the spread of the virus and the single most important action we can all take to fight coronavirus is to stay at home, protect the NHS and save lives. For more information about the lockdown see the GOV guidance here https://bit.ly/3el4z3F.
During the lockdown, you must:
These new measures will reduce the growth rate of the virus, which will:
Financial Support for Self-Employed & Small-Businesses:
Coronavirus Job Retention Scheme (CJRS) – https://bit.ly/35XmJ7X
Coronavirus Job Retention Scheme – also known as the Furlough scheme – will remain open until December. The scheme means that workers in any part of the UK can retain their job, even if their employer cannot afford to pay them, and be paid at least 80% of their salary up to £2500 a month.
Please note that the Job Support Scheme, which was scheduled to come in on Sunday 1st November, has been postponed until the furlough scheme ends.
New Style Employment and Support Allowance (ESA) – https://bit.ly/2TUabbI
You can apply for ‘new style’ ESA If you’ve been affected by coronavirus and you’re unable to claim Statutory Sick Pay. One of the following must apply to you or your child:
Local Restrictions Support Grant – https://bit.ly/2I6BLQG
In addition to CJRS business premises forced to close can now receive grants worth up to £3,000 per month under the Local Restrictions Support Grant (LRSG). The scheme is primarily focussed on hospitality, hotel, B&B and leisure businesses and will initially run until April 2021.
Coronavirus Bounce Back Loan – https://bit.ly/36eQ8e7
The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover up to the maximum loan of £50,000. The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months, then after 12 months the interest rate will be 2.5% a year. The Bounce Back Loan scheme is open to applications until 31 January 2021.
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