The government has announced additional economic support totalling £1 billion to assist those businesses that have been most affected by the Omicron variant of coronavirus:
- Businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 for each of their premises. More than £100 million of discretionary funding is to be made available for local authorities to support other businesses
- The government will also cover the cost of Statutory Sick Pay for coronavirus-related absences for small and medium-sized employers across the UK
- £30 million will be made available through the Culture Recovery Fund, enabling more cultural organisations in England to apply for support during the winter.
More information about the financial support available can be found on GOV.UK here.
Statutory Sick Pay Rebate Scheme
Employers with fewer than 250 employees that have paid Statutory Sick Pay (SSP) to employees for absences linked to coronavirus-related sickness or self-isolation could be eligible for support.
- You will receive repayments at the relevant standard rate of SSP that you paid to your current or former employees for any eligible periods of sickness starting on or after 21 December 2021.
- You will be able to reclaim the costs for up to two weeks of SSP for an employee who takes time off because of coronavirus, regardless of whether you claimed for that employee under the previous scheme.
- You will be able to make claims retrospectively from mid-January. Your agent can make claims on your behalf.
Look out for full guidance, including eligibility and how to make a claim – due to be published on GOV.UK. In the meantime, more information can be found by searching for 'COVID-19 economic support package' at GOV.UK.
Time to Pay arrangements
If your business has been impacted by the pandemic and is facing difficulty in making a tax payment, HMRC’s Time to Pay scheme may help. This offers the option of paying your tax in instalments.
HMRC says it will consider offering businesses in the hospitality and leisure sectors in particular, the option of a short delay, and payment in instalments, on a case-by-case basis. Search GOV.UK for more information about 'Time to Pay'.
The information provided in this blog is for general informational purposes only and should not be considered professional advice. As far as we are aware, the content is accurate at time of publication. Torgersens assumes no responsibility for errors or omissions in the content or for any actions taken based on the information provided.
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