COVID-19: An Update

Paying for COVID tests for your staff?

If you’re thinking about providing a test for your staff and wondering whether these would be treated as a taxable benefit, there is an exemption as a tax free benefit, however this is set to expire on 5 April 2021, although there are calls for this to be extended.

What support is out there?

  • Remember the Job retention scheme has been extended until the end of April 2021 with the Government continuing to contribute 80% towards the salary of employees for hours not worked.

As the business owner, you just need to pay the National insurance and pensions. And of course any hours worked.

  • Businesses can also access the Bounce Back Scheme and Coronavirus Business Interruption Loan Scheme, and the Large version until the end of March 2021.
  • Further Grants for Hospitality and Leisure – There is the one off grant work up to £9,000 for retail, hospitality and leisure sectors of up to £9,000.
  • There is also the grants for closed businesses up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.
  • 100% business rates relief for retail, hospitality and leisure businesses.
  • Discretionary funding for Local Authorities.
  • There are so many grants out there, all in one place take a look – these range from support for charities and CICs, young entrepreneurs affected by covid, an emergency fund for providing working capital for businesses, and of course remembering the HM Treasury payments for those in lockdowns and targeted restrictions of up to £1,500 per property every three weeks … also as Leicestershire is only across the border check out the Leicestershire Business Recovery Fund which is to help rural businesses and independent retail businesses with grants to help survive the downturn. https://www.grantsonline.org.uk/coronavirus.html
  • Who’d thought there was even as wet led pubs Christmas grant – if you’re a pub serving predominately alcohol rather than food, then your local authority should have been in touch if you were in tiers 2 and 3. https://www.gov.uk/government/news/prime-minister-announces-1000-christmas-grant-for-wet-led-pubs.

More than ever is the time to be keeping an eye on your numbers, understanding whether any grants are relevant to you, and keeping that short term focus – if you need any support you know where we are.