Financial Support in Lockdown 3
Well here we go again… Lockdown 3.
I’ve had a lot of you asking already today about grants and support available for your business. There is only a small amount of detail out at the moment, so I’ll summarise this below, and do my best to update you as we hear more.
Top Up Grants for Closed Businesses:
For businesses in sectors forced to close, namely retail, leisure and hospitality, a new round of one off funding has been announced as follows:
For Businesses with a rateable value of:
- £15,000 or less, you will receive £4,000
- £15-£51,000, you will receive £6,000
- £51,000 or more, you will receive £9,000
The above funding is on a ‘per property’ rather than ‘per business basis’
There is also to be a further £594 million discretionary fund to be made available to other impacted businesses.
This is in addition to other existing business support grants for businesses impacted within the local tier system.
We understand at the moment that these grants should be applied for via your local authority, but the various LA websites have not yet been updated with information as to how to go about this.
As soon as we have more detailed information we will be sure to let you know.
Tax Return Deadline
For those of you who may not yet have completed your tax returns, and are hoping for a little more time, HMRC have confirmed that there will be no extension to the Self Assessment Tax Return filing deadline of 31 January.
Time to pay arrangements can be made for any liabilities falling due on this date, but they will be subject to an interest charge.
The majority of the IN Team will be working from home from tomorrow, having been into the office today to pick up as much IT equipment as required.
We will continue to keep the offices open as we did during the first National Lockdown with a very skeleton staff based there to serve you.
I would ask that you bear with us as everyone is working hard to keep up our service levels to you. As always, any problems or concerns, please don’t hesitate to come to me directly.
As always, articles and most up to date / recent information regarding this ongoing pandemic and the support available to you can be found via our home page: https://www.in-accountancy.co.uk/
Take care, stay safe and be strong.
Very best wishes
Disclaimer: Please note that this email does not constitute advice and is based on our best understanding of the government announcements at 5 January 2021