The Government’s support has been extended and updated to reflect the changing position as we exit lockdown. The key areas are listed below:
The Government is providing restart grants in England of up to £6,000 per premises for non-essential retail businesses and up to £18,000 per premises for hospitality, accommodation, leisure, personal care and gyms.
A new recovery loan scheme is now available and will provide lenders with a Government guarantee of 80% on eligible loans between £25,000 and £10 million.
Both flexible and full-time furloughing are allowed. Up to the end of June, the current 80% government payment level will be maintained (capped at £2,500 a month), with employers responsible for NICs and pension payments. The government payment will then drop to 70% in July and 60% in August and September for employees’ usual wages up to a cap of £1,875. The Scheme is due to close on 30 September 2021.
The Government announced at the end of March 2021 that it will provide an additional £1.5 billion across the country that will be distributed according to which sectors have suffered most economically, rather than on the basis of falls in property values, ensuring the support is provided to businesses in England in the fastest and fairest way possible.