{"id":20883,"date":"2021-03-25T11:17:22","date_gmt":"2021-03-25T11:17:22","guid":{"rendered":"https:\/\/smh.group\/?p=20883"},"modified":"2023-02-15T13:51:32","modified_gmt":"2023-02-15T13:51:32","slug":"covid-19-relief-measures-extended-again","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/covid-19-relief-measures-extended-again\/","title":{"rendered":"Covid-19 relief measures extended again"},"content":{"rendered":"\n<p><strong>The latest, and hopefully last, lockdown is not due to be completely lifted until at least 21 June, so it was no surprise to see Covid-19 relief measures extended in the Budget on 3 March. The furlough scheme will now run until 30 September and there will be two more self-employed grants, plus various other measures.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Furlough (CJRS)<\/strong><\/h3>\n\n\n\n<p>Furloughed employees can continue to receive 80% of their wages for hours not worked, up to a cap of \u00a32,500 per month, until 30 September. By continuing for a few months after restrictions end, the scheme will help businesses slowly recover from the disruption they have faced.<\/p>\n\n\n\n<p>The current level of support will continue until 30 June. In July, the scheme will then only cover 70% of wages for the hours not worked, up to a cap of \u00a32,187.50. This will reduce to 60% for August and September, with a cap of \u00a31,875. Employers will need to pay national insurance contributions and pension contributions throughout.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Self-employed grants (SEISS)<\/strong><\/h3>\n\n\n\n<p>There are to be two more grants; a fourth grant in late April, and a fifth grant in late July. However, extra conditions will apply for the fifth grant.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The fourth grant will again be worth 80% of three months\u2019 average profits (now including results reported for 2019\/20 but capped at \u00a37,500.<\/li><li>The fifth grant will be similar if a business\u2019 turnover has dropped by 30% or more. However, if less, the grant will only be worth 30% of average pro\ufb01ts (capped at \u00a32,850).<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Other measures<\/strong><\/h3>\n\n\n\n<p>A range of additional loans and grants were also extended to provide ongoing relief ahead of the gradual easing of lockdown measures:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>VAT:<\/strong> The temporary reduced rate of 5% for businesses in the tourism and hospitality sectors has been extended until 30 September 2021, with a rate of 12.5% then applying until 31 March 2022.<\/li><li><strong>Recovery loan scheme:<\/strong> The government will guarantee 80% of loans between \u00a325,000 and \u00a310 million.<\/li><li><strong>Restart grant:<\/strong> Hospitality and leisure businesses in England will receive a grant of up to \u00a318,000 per premise; up to \u00a36,000 for non-essential retail businesses.<\/li><li><strong>Business rates relief:<\/strong> The 100% relief for eligible retail, hospitality and leisure properties in England will continue to 30 June 2021, followed by 66% relief until 31 March 2022.<\/li><\/ul>\n\n\n\n<p>Details of the levels of CJRS support can be found <strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.gov.uk\/government\/publications\/changes-to-the-coronavirus-job-retention-scheme\/changes-to-the-coronavirus-job-retention-scheme\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a><\/span><\/strong> or get in touch with us on <strong>0114 266 4432<\/strong> or <strong><span style=\"text-decoration: underline;\"><a href=\"mailto:info@smhca.co.uk\">info@smhca.co.uk<\/a><\/span><\/strong> for further guidance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest, and hopefully last, lockdown is not due to be completely lifted until at least 21 June, so it was no surprise to see Covid-19 relief measures extended in the Budget on 3 March. The furlough scheme will now run until 30 September and there will be two more self-employed grants, plus various other measures.<\/p>\n","protected":false},"author":4,"featured_media":19997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[35,624,538,527,495,537,32,34,507,187,19,76],"class_list":["post-20883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh-accounting-business-advisory","tag-business","tag-business-rates-relief","tag-business-support","tag-cjrs","tag-covid-19","tag-furlough","tag-grants","tag-loans","tag-seiss","tag-self-employed","tag-tax","tag-vat"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Covid-19 relief measures extended again - SMH Group Accounting &amp; Business Advisory<\/title>\n<meta name=\"description\" content=\"The latest, and hopefully last, lockdown is not due to be completely lifted until at least 21 June, so it was no surprise to see Covid-19 relief measures extended in the Budget on 3 March. 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