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Scottish Government Business Support Fund

11th June 2020
The Scottish Government introduced the Business Support Fund, which offers some businesses a: • Retail, Hospitality, Leisure Support Grant • Small Business Support Grant The grants are available for eligible businesses who: • pay non-domestic rates • are charged for non-domestic rates but do not need to pay because they get certain rates relief –...

Extension of the Self Employed Income Support Scheme

1st June 2020
Rishi Sunak announced an extension to the SEISS scheme in his speech of May 29. The scheme will now include a second and final grant payable in respect of the period 1 June to 31 August. As opposed to being another 80% of three months averaged profits up to a maximum of £7,500 this second...

Changes to the Coronavirus Job Retention Scheme (CJRS)

1st June 2020
Flexible Furloughing From 1 July 2020 there will be increased flexibility in the CJRS. Employers can bring back employees on a part-time basis with the government continuing to pay 80% of wages for any of their normal hours they do not work. You can decide the hours and shift patterns that your employees work and...

Statutory Sick Pay Rebate Scheme

21st May 2020
The Statutory Sick Pay Rebate Scheme (SSPRS) launches on 26 May 2020, from which date claims for refunds can be made via an online portal similar to that currently available for the Coronavirus Job Retention Scheme (CJRS). Employers Eligibility The scheme will repay employers for up to 14 days of SSP costs per employee (current...

Self Employed Income Support Scheme (SEISS)

4th May 2020
This week HMRC will start contacting people to invite them to apply for the SEISS. The scheme is due to pay out in early June once applications have been processed. The payment will be made in one single instalment covering the three month period from 1 March to 31 May 2020 and is capped at...

3 New Covid-related Funding Schemes from the Scottish Government

1st May 2020
The following three new schemes are now available: • Pivotal Enterprise Resilience Fund • Creative, Tourism & Hospitality Enterprises Hardship Fund • Newly Self-Employed Hardship Fund Follow this link for full Scottish Government Guidance The Pivotal Enterprises and Creative, Tourism & Hospitality Funds can be applied for through the Scottish Government website. APPLY HERE These...

Newly Self Employed Hardship Fund

1st May 2020
Eligibility Criteria for the Newly Self Employed Hardship Fund: • You became self-employed on or after 6 April 2019 • Over 50% of your individual income is from self-employment • Your trading profits were below £50,000 in the 19/20 tax year • You have lost business due to COVID and are suffering financial hardship as...

Creative, Tourism & Hospitality Enterprises Hardship Fund

1st May 2020
Eligibility Criteria for the Creative, Tourism & Hospitality Enterprises Hardship Fund: • You have up to 49 employees • You have experienced at least a 50% loss of current or projected revenue • Your business was not in financial difficulties before 31 December 2019 (follow this link for the definition) • You are not in...

Pivotal Enterprise Resilience Fund

1st May 2020
Eligibility Criteria for the Pivotal Enterprise Resilience Fund – You have fewer that 249 employees as part of a business that has been trading successfully before COVID – You have less than £43.689m turnover and less than £37.572m balance sheet value – You can demonstrate that the funding will support the business viability – Your...

Bounce Back Loan Scheme

30th April 2020
As part of Rishi Sunak’s promise to make loan funds accessible to struggling businesses, the Bounce Back Loan Scheme was introduced by the government on Monday 27 April. The scheme launches on 4 May 2020. This scheme offers loan funds of £2,000 to £50,000 over periods up to 6 years. These loans will cover 25...