Originally written by Timothy Adler on Small Business
Prime Minister Boris Johnson will announce extra cash for pubs and restaurants hit by new coronavirus restrictions to help them get through Christmas.
The Prime Minister could announce the extra cash for pubs and restaurants as early as tomorrow (Tuesday) in a bid to get to rebellious Tory MPs to vote through new coronavirus restrictions.
The government’s new tiered coronavirus system will slash income for pubs and restaurants, 98 per cent of which will either be in Tier 2 or Tier 3, in half meaning £7.8bn in lost incomes, according to trade body UKHospitality.
>See also: Non-essential retail and gyms to reopen next month under new tier rules
One government source told the Telegraph: “There are already grants of £2,000 and £3,000 for businesses in Tiers 2 and 3, but we recognise that we need to do more.”
The new tiered system, which has been described as a death knell for thousands of pubs and restaurants, requires all premises in Tier 3 to offer only takeaway service, while those in Tier 2 can only serve alcohol with “substantial meals” – restrictions which will apply to 99 per cent of Britain.
Ian Payne, chairman of Stonegate, Britain’s biggest pubs group
Tag Archive for Government Grants
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Extra cash for pubs and restaurants hit by Tier lockdown
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Prime Minister Boris Johnson will announce extra cash for pubs and restaurants hit by new coronavirus restrictions to help them get through Christmas.
The Prime Minister could announce the extra cash for pubs and restaurants as early as tomorrow (Tuesday) in a bid to get to rebellious Tory MPs to vote through new coronavirus restrictions.
The government’s new tiered coronavirus system will slash income for pubs and restaurants, 98 per cent of which will either be in Tier 2 or Tier 3, in half meaning £7.8bn in lost incomes, according to trade body UKHospitality.
>See also: Non-essential retail and gyms to reopen next month under new tier rules
One government source told the Telegraph: “There are already grants of £2,000 and £3,000 for businesses in Tiers 2 and 3, but we recognise that we need to do more.”
The new tiered system, which has been described as a death knell for thousands of pubs and restaurants, requires all premises in Tier 3 to offer only takeaway service, while those in Tier 2 can only serve alcohol with “substantial meals” – restrictions which will apply to 99 per cent of Britain.
Ian Payne, chairman of Stonegate, Britain’s biggest pubs group
Hot Business News Today
Liverpool launches £9.5m grant fund for ‘excluded’ self-employed
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Liverpool has launched a £9.5m grant fund to specifically help the self-employed in hospitality and leisure excluded from government Covid support.
This includes support for the self-employed, sole traders or the home-based and their supply chains.
The Liverpool self-employed grant fund is the first in England specifically aimed at the “excluded and forgotten” from national support schemes such as the Self-Employment Income Support Scheme.
Businesses based in Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral are eligible for support from the new £9.5m fund.
Last week, Liverpool mayor Steve Rotheram wrote to chancellor Rishi Sunak alongside London mayor Sadiq Khan and Manchester mayor Andy Burnham urging him to do something for the 3m self-employed who have found themselves excluded from national support.
It is estimated that there are 3m self-employed excluded from government Covid-19 business support.
Forgotten Limited, the pressure group for small limited company directors affected by the pandemic, said that 70 per cent of its members had not received any government support since the onset of the pandemic in March. Even if they make it to Christmas, 93 per cent doubted their small limited companies would still be trading by Easter.
Mr Rotheram said: “This latest round of
Hot Business News Today
Liverpool launches £9.5m grant fund for ‘excluded’ self-employed
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Liverpool has launched a £9.5m grant fund to specifically help the self-employed in hospitality and leisure excluded from government Covid support.
This includes support for the self-employed, sole traders or the home-based and their supply chains.
The Liverpool self-employed grant fund is the first in England specifically aimed at the “excluded and forgotten” from national support schemes such as the Self-Employment Income Support Scheme.
Businesses based in Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral are eligible for support from the new £9.5m fund.
Last week, Liverpool mayor Steve Rotheram wrote to chancellor Rishi Sunak alongside London mayor Sadiq Khan and Manchester mayor Andy Burnham urging him to do something for the 3m self-employed who have found themselves excluded from national support.
It is estimated that there are 3m self-employed excluded from government Covid-19 business support.
Forgotten Limited, the pressure group for small limited company directors affected by the pandemic, said that 70 per cent of its members had not received any government support since the onset of the pandemic in March. Even if they make it to Christmas, 93 per cent doubted their small limited companies would still be trading by Easter.
Mr Rotheram said: “This latest round of
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Rishi Sunak urged to help self-employed company directors
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Lobbyists, trade associations and experts have joined forces to urge Rishi Sunak to help company directors frozen out of government Covid-19 support.
A consortium of professional bodies has urged the chancellor to consider proposals for a “Directors Income Support Scheme” (DISS), which would mirror the Self-employment Income Support Scheme (SEISS) under which sole traders can claim up to £2,500 per month.
This is a last-ditch attempt for the Treasury to change its mind before this week’s Spending Review.
>See also: When and where to apply for the new 80% self-employed grant
Until now the Treasury has balked at helping self-employed directors of limited companies who pay themselves in dividends, claiming it would be too difficult to separate company income from passive income, such as property and shares.
This is despite company directors paying themselves through through dividends being the standard accounting structure used by around 2m small UK limited companies, ranging from those with sole owner directors to micro businesses, which collectively employ 7.5m people.
Some see the Treasury’s mulishness as a disguised attack by HMRC on self-employed company directors, who often pay less into National Insurance and pay corporation tax instead of income tax.
It is estimated that around
Hot Business News Today
Rishi Sunak urged to help self-employed company directors
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Lobbyists, trade associations and experts have joined forces to urge Rishi Sunak to help company directors frozen out of government Covid-19 support.
A consortium of professional bodies has urged the chancellor to consider proposals for a “Directors Income Support Scheme” (DISS), which would mirror the Self-employment Income Support Scheme (SEISS) under which sole traders can claim up to £2,500 per month.
This is a last-ditch attempt for the Treasury to change its mind before this week’s Spending Review.
>See also: When and where to apply for the new 80% self-employed grant
Until now the Treasury has balked at helping self-employed directors of limited companies who pay themselves in dividends, claiming it would be too difficult to separate company income from passive income, such as property and shares.
This is despite company directors paying themselves through through dividends being the standard accounting structure used by around 2m small UK limited companies, ranging from those with sole owner directors to micro businesses, which collectively employ 7.5m people.
Some see the Treasury’s mulishness as a disguised attack by HMRC on self-employed company directors, who often pay less into National Insurance and pay corporation tax instead of income tax.
It is estimated that around
Hot Business News Today
When and where to apply for the new 80% self-employed grant
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Rishi Sunak has announced that the third self-employed income support grant covering November to January will increase to 80 per cent of profits.
The next self-employed grant will be capped at £7,500 per person, based on average trading profits.
The online service for the next self-employed grant will be available from November 30 through the GOV.UK website.
>See also: Self-employed Income Support Scheme (SEISS) to be doubled for November
The self-employed grant is taxable income and also subject to National Insurance contributions.
The government has already announced there will be a fourth grant covering February to April 2021, the level of which has yet to be announced.
Universal Credit U-turn
The government has also extended the suspension of the Minimum Income Floor, a rule within the universal credit system which capped payments to self-employed workers to the equivalent of what you’re given if you are working full-time on minimum wage but still claiming.
The Treasury said that the cost of support for the self-employed would be up to £7.3bn, £2.8bn of which was new money announced for the third self-employed grant.
Who’s still excluded from the self-employed grant
However, swathes of the self-employed – calculated to be 690,000 people – are still excluded
Hot Business News Today
When and where to apply for the new 80% self-employed grant
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Rishi Sunak has announced that the third self-employed income support grant covering November to January will increase to 80 per cent of profits.
The next self-employed grant will be capped at £7,500 per person, based on average trading profits.
The online service for the next self-employed grant will be available from November 30 through the GOV.UK website.
>See also: Self-employed Income Support Scheme (SEISS) to be doubled for November
The self-employed grant is taxable income and also subject to National Insurance contributions.
The government has already announced there will be a fourth grant covering February to April 2021, the level of which has yet to be announced.
Universal Credit U-turn
The government has also extended the suspension of the Minimum Income Floor, a rule within the universal credit system which capped payments to self-employed workers to the equivalent of what you’re given if you are working full-time on minimum wage but still claiming.
The Treasury said that the cost of support for the self-employed would be up to £7.3bn, £2.8bn of which was new money announced for the third self-employed grant.
Who’s still excluded from the self-employed grant
However, swathes of the self-employed – calculated to be 690,000 people – are still excluded
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Nearly half a million self-employed face having universal credit cut
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Nearly half a million self-employed people claiming universal credit face having their payments cut next month.
The government is on course to reinstate rules aligning self-employed universal credit payments with those of full-time workers on the minimum wage.
This is despite the government promising to suspend the cap – or “minimum income floor” (MIF) – for self-employed universal credit claimants “for the duration” of the Covid pandemic.
>See also: 1m self-employed face having to pay tax bill larger than what they earnt
Government officials told the Times that the MIF is set to be reinstated on November 13. However, no decision has been taken yet.
The Institute of Fiscal Studies has estimated that the MIF affects about 450,000 households who would lose an average of £3,200 a year by treating them the same as full-time employees on the minimum wage.
Stephen Timms, Labour chairman of the Commons welfare committee, told the newspaper: “The suspension of the minimum income floor should be extended, as the government said it would be, for the duration of the pandemic. Its re-imposition just when the effects of coronavirus are getting worse will be a heavy blow to many self-employed people, currently struggling to keep
Hot Business News Today
Job Support Scheme changes what they mean for your business
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
Chancellor Rishi Sunak has made changes to the Job Support Scheme, making it more generous, offered grants for businesses in Tier 2 regions with their business restricted due to Covid restrictions and doubling help for the self-employed.
Mr Sunak made the announcement about changes to the Jobs Support Scheme, grants for restricted businesses in Tier 2 and increased help for the self-employed in the House of Commons this morning, responding to the worsening Covid pandemic.
Job Support Scheme changes
The Job Support Scheme has been made more generous, with employers only contributing 5 per cent of wage bills for employees on days not worked. And, rather than having to work at least half their usual hours, now employees only have to work 20 per cent of minimum hours, so those working just one day a week will be eligible
The Self-employed Income Support Scheme (SEISS) will be more generous, with the government covering an average of 40 per cent of lost profits compared to the current 20 per cent, meaning the maximum grant will increase from £1,875 to £3,750
Any business in Tier 2 with its business restricted, such as hospitality, accommodation and leisure, can now claim a