COVID-19 Financial Support

Please find below details of the remaining Government schemes available for individuals and businesses to support them financially following the COVID-19 crisis.

Should you have any questions, please contact us as soon as possible. 

For Individuals:

Self-employed Income Support Scheme

The deadline for claiming the fifth and final SEISS grant closed on 30 September 2021.

Self-assessment - Online 'self-service' Time to Pay Application

It is possible to still apply online for a self-service time to pay arrangement with HMRC if you wish to spread the cost of your latest Self-Assessment bill if:

  • you owe £30,000 or less
  • you do not have any other payment plans or debts with HMRC
  • your tax returns are up to date
  • it’s less than 60 days after the payment deadline

You will need your own Government Gateway account linked to your Personal Tax Account to apply online.

Individuals without an online Government Gateway account or who wish to request a Time To Pay arrangement for a liability of more than £30,000 will still need to arrange this over the phone with HMRC by calling 0300 200 3822 between 8am-6pm (Monday to Friday)

Should you require any assistance on this, or would like help with cashflow or budgeting, please contact us.

For Individuals and Business:

Dedicated HMRC Time to Pay Helpline

Anyone who is in financial distress caused by the fallout from Coronavirus and has outstanding tax liabilities, or has tax liabilities approaching in the next few weeks, can call the dedicated HMRC helpline on 0800 024 1222 to arrange a deferred payment plan.

For Business:

Coronavirus Job Retention Scheme

The deadline for the final claim for the furlough scheme is 14 October 2021, with any amendments to claims required by 28 October 2021.

Coronavirus Business Interruption Loan Scheme (“CBILS”) / Bounce Back Loan Scheme / Coronavirus Large Business Interruption Loan Scheme

The deadline for applications was 31 March 2021.

Deferral of VAT (originally due between 20 March - 30 June 2020)

VAT payments due between 20th March and 30th June 2020 were to be deferred automatically, although businesses taking advantage of this deferral would have had to agree to a time to pay arrangement by 21 June to spread the liability over 8 instalments.

Any business who has not organised a time to pay arrangement should speak to HMRC by phone on 0800 024 1222.

Reduced VAT Rate - Hospitality and Tourism sector

From 15 July 2020 to 30 September 2021, a large range of supplies made by the hospitality sector was be subject to the reduced rate (5%) of VAT rather than the standard rate. This will apply to the supply of the following:

  • Food and non-alcoholic drinks from restaurants, bars, cafes, and similar premises
  • Accommodation
  • Admission to attractions

This temporary rate of VAT is increased to 12.5% between 1 October 2021 and 31 March 2022, before being restored to 20% from 1 April 2022.

Business Rates Relief - Retail, Hospitality and Leisure sector

All businesses in the retail, hospitality or leisure sector will be provided with a 15-month business rates holiday which ended on 30 June 2021.

Business rates relief will continue for all eligible premises in this business sector at the rate of 66% from 1 July 2021 to 31 March 2022.

This relief is capped at £2 million per business for properties that were required to be closed on 5 January 2021, or £105,000 per business for other eligible properties in the sector.

 

Business Grants / Restart Grants

All Business and Restart Grant applications closed on 30 June 2021

Kickstart Scheme

A new £2billion fund has been launched to cover the cost of 25 hours work per week at the National Minimum Wage (plus any Employers’ National Insurance and Employers’ Pension costs) for 16-24 year olds currently claiming Universal Credit. This will be on the basis of 6 month work placements.

Employers will be able to top up any payment of wages over and above the National Minimum Wage if they wish.

Applications for the scheme opened in August 2020 with a deadline for new applications closing on 17 December 2021. The start date of the jobs must be before 31 March 2022

Apprenticeship & Traineeship Schemes

Applications for the apprenticeship and traineeship schemes closed on 30 September 2021.

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