Retail, Hospitality and Leisure Sector Grants
Retail, hospitality and leisure sector grants
The chancellor has announced one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through to the Spring. Included in this are hair and beauty businesses in England.
The new one-off grants for these sectors will be as follows:
£4,000 for businesses with a rateable value of £15,000 or under
£6,000 for businesses with a rateable value between £15,000 and £51,000
£9,000 for businesses with a rateable value of over £51,000
Businesses will be able to apply to their local authorities for support.
Additional support available to all sectors
All businesses impacted adversely are eligible for a grant worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.
In addition the furlough scheme for employees on a PAYE scheme is now extended to April.
Self-employed support
The self-employed who have suffered a significant profit reduction may get up to £7,500. The Self-Employment Income Support Scheme (SEISS) grant 3 can be applied for until 29 January as long as you have filed a tax return for 2018/19, have an average trading profit of less than £50,000/yr and more than 50% of your total income is self-employment.
Other things which can help
If you have been required to work from home since 6 April 2019 you you can claim a year’s tax relief. The rebate is worth £60 or £125. You can check here if you are eligible to claim - https://www.gov.uk/tax-relief-for-employees/working-at-home
Payment holidays for mortgages, cards, loans, car finance etc are available until 31 March.