On Thursday 22 October Rishi Sunak has announced another round of support for businesses hit by restrictions as the number of COVID-19 cases rise across the UK.
Businesses who have been impacted by Tier 2 restrictions will be eligible for a new grant scheme. Local authorities will be provided with funds to deliver cash grants to businesses in the accommodation, hospitality and leisure industries.
Once we know more about the grant and how it will be distributed, we will update our Coranvirus Grant and Finance pages.
Expanded Access to the Job Support Scheme
Access to the Job Support Scheme will be expanded in order to protect jobs. Under this scheme, if a business is forced to close, then the Government covers the full cost of two thirds of an employee’s salary.
More Support for Self-Employed Workers
The government contribution to Self Employed Grants under the Self Employed Income Support Scheme (SEISS) will increase from 20% to 40%. This will increase the maximum grant from £1,875 to £3,750.
Read the Government’s full update here.