The recent Budget confirmed the extension of some financial support for businesses, including:
- The extension of the Coronavirus Job Retention Scheme, also known as the furlough scheme, until the end of September.
- The announcement of £5 billion in new Restart Grants – a one off cash grant of up to £18,000 for hospitality, accommodation, leisure, personal care and gym businesses in England.
- A new UK-wide Recovery Loan Scheme to make available loans between £25,001 and £10 million, to help businesses of all sizes through the next stage of recovery.
- Business rate relief for 750,000 eligible businesses in the retail, hospitality and leisure sectors in England.
Full details of the current grants and financial support on offer can be found on our website, including the opening of the second phase of applications for the Local Restriction Support Grant, for businesses required to close or those severely impacted by national restrictions. Applications for this phase of the grant close on 31 May.
We will update our website with the latest guidance as soon as it is available.