There had been a lot of discussion around support measures for business, particularly the hospitality sector, after the somewhat vague advice about whether people should go out or not.
Today the Chancellor announced some plans to help hospitality businesses:
- A total of £1bn in grants.
- These will be up to £6,000 per premises, depending on the rateable value of the property (this differs to some earlier grants which were per company/business).
- Scale is between £2,700 and £6,000
- £100m to local authorities in discretionary grants for other businesses.
- An additional £30m for museums and theatres.
We do not yet know how/when the money will be claimable but previous Covid support measures have been fairly quick and the infrastructure is there from previous schemes to do so. We will update you as soon as this is published.
There we no changes to current VAT rates or any concessions on time to pay liabilities to HMRC.
There was also a more general announcement that small and medium sized businesses will be able to claim back statutory sick pay from the government. This is once an employee has been off work for 4 days or more.
Whether anything further will follow, will surely depend on the next batch of government advice. We will, of course, keep you up to date with anything that comes out.
We’re here to support you – please do get in touch if we can help.