Yesterday the Government announced it will increase the amounts and reach of its winter support schemes. The Chancellor said he would be increasing financial support through the existing Job Support and self-employed schemes. He will also expand business grants to support companies in high-alert level areas.
Below are the main points:
Job Support Scheme (JSS)
Firstly, the employer contribution has been reduced to 5 per cent for unworked hours. The minimum hours requirement is reduced to 20 per cent. So those working just one day a week will be eligible. That means, for instance, that if someone was being paid £587 for their unworked hours, the government would be contributing £543 and their employer £44.
Employers will continue to receive the £1,000 Job Retention Bonus. The Job Support Scheme Closed for businesses legally required to close remains unchanged.
The amount of profits covered by the two forthcoming self-employed grants was increased from 20 per cent to 40 per cent. This means the maximum grant will increase from £1,875 to £3,750.
The Chancellor also announced approved additional funding to support cash grants of up to £2,100 per month primarily for businesses in the hospitality, accommodation and leisure sector who may be adversely impacted by the restrictions in high-alert level areas. These grants will be available retrospectively for areas who have already been subject to restrictions and come on top of higher levels of additional business support for Local Authorities moving into Tier 3.
These grants could benefit around 150,000 businesses in England. For example hotels, restaurants, B&Bs and many more who are not legally required to close but have been adversely affected by local restrictions.
Finally, if you have questions or need help accessing financial support please get in contact.
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