News

Rishi Sunak, the Chancellor has just announced changes to the financial support available for businesses through the winter support schemes from 01 November 2020. 

In Brief.

Job Support Scheme

The business contributions will be reduced and the Government contributions increased. The employee will now need to be working for at least 20% of their usual hours (previously 33%). The employer will now pay 5% of usual hours not worked (previously 33%). The Government will pay 61.67% of the usual hours not worked (previously 33%).  

SEISS

Grants for the self employed have been doubled to 40% of previous earnings, with a maximum grant of £3,750 per month for the first grant period (November 2020 – January 2021).

Grants

Business grants are being expanded, particularly for the worst-affected sectors (hospitality, accommodation and leisure). Clients should also keep an eye on their local authority websites as it will be up to Local Authorities to distribute grant funding in their areas.