New lockdown rules, furlough extended and more

New lockdown rules, furlough extended and more

One of the scariest Halloweens in a long time for all the wrong reasons. Boris has announced a second lockdown and a change to the support available for businesses

The new rules (so far!)

• Lockdown imposed from Thursday 5 November 2020 to 2 December 2020
• This could be extended if the R (infection) rate doesn't drop below 1

You should not leave home, except:

• for education
• for work, if you cannot work from home
• for exercise and recreation outdoors
• to shop for food and essentials
• to care for others

Businesses who must close:

• Pubs, restaurants and bars, but they can still offer takeaway and delivery
• Gyms and leisure facilities
• Personal care facilities (beauty salons etc)
• Non-essential retail – (electronics/clothes stores etc) but they can offer delivery and click-and-collect services

Businesses who can stay open:

• Hotels and accommodation, ONLY for guests travelling for work
• Childcare, nurseries, schools and colleges
• Construction and manufacturing

Furlough scheme extended

• The new Job Support Scheme has been delayed, and furlough extended
• Employees can be furloughed if they were on a payroll filed with HMRC by 23:59 on 30 October 2020
• The Government will continue to pay 80% of the employees’ wages up to £2,500
• Employers will pay their national insurance and pension contributions
• Flexible furlough is still allowed

No updates yet on the 3rd self-employment income support scheme (SEISS)

• This is currently 40% of your average profits, for the 3 months from 1 November 2020
• There should be a 4th grant due for the 3 months from 1 February 2021
• We don't know at this stage whether a review of this support will take place now that there is a new lockdown

Business grants

• Available for businesses forced to close
• Grants calculated for each 2 week period closed, and based on your rateable value as follows:
  • up to £15,000 the grant is £667 every 2 weeks
  • between £15,001 and £50,999 £1,000 every 2 weeks
  • above £51,000 should receive a grant of £1,500 every 2 weeks
• Find your rateable value here, you’ll need your business postcode

Mortgage holiday extended

• This was due to end 31 October 2020
• You can apply for a mortgage repayment holiday for 6 months

If you're struggling we urge you to get in touch, we can help with cashflow planning and grant applications and even just chat through the variety of government support out there Stay safe