COVID Update 55

The Coronavirus Job Retention Scheme, known as the furlough scheme
This scheme will remain open until December, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500. The Job Support Scheme will not be introduced until after the Coronavirus Job Retention Scheme ends.

Self-Employment Income Support Scheme Grant Extension

The grant is being extended from 1 November 2020. The grant will be increased from the previously announced level of 40% of trading profits to 80% for November 2020.

Business premises forced to close in England due to local or national restrictions will be eligible for the following:

• For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
• For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
• For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

The application deadlines for the Coronavirus Bounce Back Loan, Coronavirus Business Interruption Loan, Coronavirus Large Business Interruption Loan Scheme and Coronavirus Future Fund have been extended until 31 January 2021.

Please share these links through your networks. Any questions can be directed to our dedicated business enquiries mailbox (covid19-partnerships@cabinetoffice.gov.uk).

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Hinckley BID will continue to feed out important information as we receive it.

Please remember that Hinckley BID is here to help any BID member business if we can – just email steve@hinckleybid.co.uk or martina@hinckleybid.co.uk – or call Steve on 0770 939 4841.