Most of Cumbria and the Yorkshire Dales are currently in Tier 1, but the problem for those running tourism businesses is that bookings and trade are affected by most of Northern England being under Tier 2 or Tier 3 restrictions. As a result, accommodation is being cancelled and visitor numbers are much lower than normal for October half term. Yesterday, the Chancellor announced further support for businesses and this is outlined below:
Support for all businesses including in Tier 1
The Job Support Scheme will only require employees in businesses that remain open to work 20% of their normal hours - instead of 33% - and the amount employers need to contribute to their wages will reduce from 33% to 5%.
Grants for the Self Employment Income Support Scheme are to be doubled from 20% to 40% of average profits for the next two claims from November - January and February – April. This increases the maximum grant from £1,875 to £3,750, but this is still a reduction compared to the grant available for the first 2 rounds of the scheme.
Businesses under Tier 2 restrictions
Grants of up to £2,100 a month are available for certain businesses in Tier 2 areas affected by Covid-19 restrictions including hospitality, accommodation and leisure. These grants will be retrospective, so businesses in areas under enhanced restrictions can backdate their claim to August.
Businesses under Tier 3 restrictions
The Local Restrictions Support Grant is available of up to £3,000/month to businesses in Tier 3 lockdown areas that have been told to close.
“BOUNCE BACK” LOAN SCHEME – DEADLINE 4TH NOVEMBER
Don’t miss out on the Bounce Back loan scheme which provides Government backed loans at 2.5% interest. Deadline 4th November.
OUR LATEST COVID SUPPORT SCHEME BRIEFING IS ON THE FOLLOWING LINK: