Last updated: 19th July 2021
Most legal restrictions to control COVID-19 have been lifted at step 4. Read more on the Government website here.
Outlined below is the support available to businesses and how to access it:
Budget 2021 announcements:
All measures announced by Chancellor Rishi Sunak in the Budget on 3rd March 2021 can be found here.
- Job Retention Scheme – extended to 30th September 2021. From 1 July 2021, the government will pay 70% of wages up to a maximum cap of £2,187.50 for the hours the employee is on furlough. From 1 August 2021, the government will pay 60% of wages up to a maximum cap of £1,875 for the hours the employee is on furlough. Find out more about how the scheme here.
- Self-Employed Income Support Scheme – claims for the fourth SEISS grant have now closed. The online claims service for the fifth grant will be available from late July 2021. Find out more about the fifth grant here.
- A new UK-wide Recovery Loan Scheme to make available loans between £25,001 and £10 million, and asset and invoice finance between £1,000 and £10 million, to help businesses of all sizes through the next stage of recovery. This scheme is now open until December 2021.
- Help to Grow programme – a new programme which will help small and medium sized businesses across the UK learn new skills, reach new customers and boost profits.
- The Government are doubling the apprentice incentive payments for businesses to £3,000 for all new hires between 1 April 2021 and 30 September 2021.
- Extension of the Film & TV Production Restart scheme in the UK, with an additional £300 million to support theatres, museums and other cultural organisations in England through the Culture Recovery Fund.
- Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020 to 2021 tax year.
- Extension to the VAT cut to 5% for hospitality, accommodation and attractions across the UK until the end of September, followed by a 12.5% rate for a further six months until 31 March 2022.
(You will need to click on the table below to access the links, this will open as a PDF file for you)
The government website outlines the financial support available to businesses and has a ‘support finder’ tool which will help identify the financial support that is available to you.
Other support
- Job Retention Bonus – this has currently been withdrawn as the Coronavirus Job Retention Scheme has been extended until the end of September 2021.
- Statutory Sick Pay (SSP) for businesses that employ fewer than 250 employees.
- Tax deferral – if you deferred your VAT payments last year (2020) can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.
- Deferral of self-assessment payment on account. You have the option to defer your second payment on account if you are registered in the UK for self-assessment and are having difficulties to make a payment.
- Funding streams – several organisations have launched funding programmes to assist local organisations in responding to the challenges Covid-19.
- There are several Business Representative Organisations and Trade Associations in the UK offering sector specific guidance and are happy to hear from non-members and members alike, so do get in touch to find out more.
Local support
You can also find free support, advice, and information on sources of finance through your local Growth Hub.
- The EM3 Growth Hub have a dedicated helpline for business and can provide one to one support and advice, access to information, webinars and other sources of support for businesses in the EM3 region.
- The Solent Growth Hub are working with several partners to identify additional support for businesses in the Solent region including additional funding and advice. On the Coronavirus Support Hub you will find a page dedicated to the support being offered.
If you have a query that isn’t covered by this guidance you can contact the Government Business Support Helpline.
