Government Support

GOVERNMENT SUPPORT FOR BUSINESSES

Coronavirus restrictions: Find out what you can and cannot do.

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Roadmap out of lockdown

The latest Coronavirus Restrictions can be found here

While cases are high and rising, everybody needs to continue to act carefully and remain cautious. This is why we are keeping in place key protections at step 4 from 19 July:

  • testing when you have symptoms and targeted asymptomatic testing in education, high risk workplaces and to help people manage their personal risk.
  • isolating when positive or when contacted by NHS Test and Trace.
  • border quarantine: for all arriving from red list countries and for those people not fully vaccinated arriving from amber list countries.
  • cautious guidance for individuals, businesses and the vulnerable whilst prevalence is high including:
    • whilst Government is no longer instructing people to work from home if they can, Government would expect and recommend a gradual return over the summer
    • Government expects and recommends that people wear face coverings in crowded areas such as public transport;
    • being outside or letting fresh air in
    • minimising the number, proximity and duration of social contacts.
    • encouraging and supporting businesses and large events to use the NHS Covid Pass in high risk settings. The Government will work with organisations where people are likely to be in close proximity to others outside their household to encourage the use of this. If sufficient measures are not taken to limit infection, the Government will consider mandating certification in certain venues at a later date.

Budget 2021

The Chancellor has provided the budget for 2021 and beyond, updating the country on new measures required to combat the effects of the COVID-19 pandemic and future changes to tax to pay for them.

Jobs, business support and investment in economic growth were the key themes of Chancellor Rishi Sunak’s Budget as he announced the government’s ‘three-part plan to protect jobs and livelihoods of British people’

Coronavirus Job Retention Scheme

The Coronavirus Job Retention Scheme has been extended until 30 September 2021. From 1 July 2021, the government will pay 70% of wages up to a maximum cap of £2,187.50 for the hours the employee is on furlough.

From 1 August 2021, the government will pay 60% of wages up to a maximum cap of £1,875 for the hours the employee is on furlough.

For claims from 1st July 2021, employers must top up employees’ wages to make sure they receive 80% of their wages (up to £2,500) for the hours they are on furlough. The caps are proportional to the hours not worked.

Find out more about how the scheme is changing.

Claims for furlough days in July 2021 must be made by 16 August 2021.

Self Employed Income Support (SEISS)

If you’re eligible based on your tax returns, HMRC will contact you in mid-July to give you a date that you can make your claim from. It will be given to you either by email, text message, letter or within the online service.

The online service to claim the fifth grant will be available from late July 2021.

You’ll need to confirm that you meet other eligibility criteria when you make your claim.

You must make your claim on or before 30 September 2021.

VAT

Reduced VAT of 5% for hospitality and leisure is to be held for further 6 months with an interim VAT rate of 12.5% to be introduced in April 2022.

VAT rate and registration threshold to remain frozen until April 2026.

Business Rates

For the remaining nine months of the year, business rates will be discounted by two thirds, up to a value of £2million for closed businesses.

Corporation Tax

From April 2023 Corporation Tax will be increased to 25%.

Businesses with £50,000 or less profit will remain at a rate of 19%.

There will be a taper in place for businesses with profit above £50,000, going up to £250,000 of profit.

Profits above £250,000 will be taxed at 25%.

Tax treatment of losses

Businesses to now be able to carry back tax losses of up to £2million for 3 years.

Business Investment “Super Deduction”

When companies invest in capital equipment, they will be able to reduce their tax bill by 130% of the cost.

Apprenticeships and training

The government has doubled the payment to businesses hiring apprentices to £3,000, regardless of age, and a new £7 million“flexi-job” apprenticeship programme in England programme will be introduced, allowing apprentices to work across multiple projects with different employers in one sector. An additional £126 million was pledged to create 40,000 more traineeships, funding high-quality work placements and training for 16-24 year-olds in the 2021/22 academic year.

A new Help to Grow scheme will offer up to 130,000 companies a digital and management boost while a new UK-wide management programme will upskill 30,000 SMEs over three years. 

Government support & Information

Funding and support

Self-employed people and sole traders

Your responsibilities as an employer

Managing your business during coronavirus

OTHER SOURCES OF ADVICE AND GUIDANCE

Most business membership and support organisations are trying to disseminate the most up-to-date information on Government and other support measures as soon as it becomes available. This information is normally available to both members and non-members please use the links below:

British Chambers of Commerce – National Chamber of Commerce
https://www.britishchambers.org.uk/page/coronavirus

Surrey Chamber of Commerce 
– local Surrey Chamber of Commerce
https://www.surrey-chambers.co.uk/representation/how-is-your-business-doing/

Enterprise M3 - Local Enterprise Partnership (Public/Private Partnership)
https://enterprisem3growthhub.co.uk/coronavirus-covid-19

Institute of Directors – Membership Organisation for Company Directors
https://www.iod.com/iod-coronavirus-support-hub

Confederation of British Industry – Represents British larger businesses
https://www.cbi.org.uk/coronavirus-hub 

Federation of Small Businesses 
– Represents British micro and small businesses
https://www.fsb.org.uk/campaign/covid19.html

Enterprise Nation – organisation supporting micro and small businesses
https://www.enterprisenation.com/coronavirus-support/

ACAS - The Advisory, Conciliation and Arbitration Service

Information for employees and employers

ACAS has published information for employees and employers, including simple steps to help protect the health and safety of staff during this time. Find out more on
https://www.acas.org.uk/coronavirus

Association of British Insurers – representing British Insurance sector
https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa/

Security tips for businesses

If you have been instructed by the government to close your business in line with the Covid-19 guidance or you have chosen to close, it is a good time for you to review your security to reduce the chances of your premises being targeted by opportunist thieves, or your business being subjected to cyber attacks.

Secured by Design, the Police Digital Security Centre and the National Counter Terrorism Security Office have put together the Top 10 Security Tips for Closed Business Premises, the Top 10 Cyber Security Tips for Working at Home and the latest Counter Terrorism advice following the launch of a new app. Download here.

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