The SEISS fifth grant period ends today as does the furlough scheme, with employers having until 14 October to submit a claim for the latter – as does the VAT reduction for hospitality and tourism to 5%, which will see an increase to 12.5
The ICAEW have issued a handy timeline for the remaining schemes.
Two forms of data are shown in the chart: how much money has been spent or lent on each scheme so far, and each scheme’s end date.
The chart does not include all of the support measures provided by the government or the Bank of England to businesses and individuals, for example the £20 a week uplift in universal credit to those on low incomes that also comes to an end on 30 September or the corporate finance lending facilities provided by the Bank of England to very large businesses.
Rishi Sunak has set out the UK Government’s plans for recovery. The Chancellor has promised to do “whatever it takes” to help the UK’s pandemic-damaged economy. HB Accountants are here to help you #BeInformed and our budget summary gives to you overview of the key announcements arising for the Chancellor’s speech.
The Prime Minister has announced the Government’s roadmap to reopening the economy entitled Covid-19 Response – Spring 2021. A copy of the full guidance is here
It introduced a 4 stage plan for reopening the economy starting on Monday 8th March with the reopening of schools and colleges. Then subsequent stages will follow at 5 week intervals provided the following four conditions are met at each stage before proceeding to the next one:
Great news for SMEs that need some financial help after the recent (and ongoing) business disruption caused by the pandemic. Grants, launching today, are available for between £1,000 – £5,000 to be used to access new technology and other equipment, as well as professional, legal, or financial advice to help get back on track.
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