Posted: Wed 29th Sep 2021
Several of the government's COVID-19 business support schemes end or change on 30 September. Here are the details.
Coronavirus Job Retention Scheme
Through CJRS, known as the furlough scheme, the government covers 60% of furloughed employees' wages up to a maximum £1,875 with employers needing to contribute 20% up to £625. They must also pay National Insurance and pension contributions as usual.
The scheme closes on 30 September but employers have until 14 October to submit claims for September.
Self-employment Income Support Scheme
The fifth grant is the final grant through the SEISS scheme. The amount available depends on the impact of the pandemic on turnover. For eligible self-employed people suffering a loss in turnover of 30% or more, the grant is worth 80% of three months average trading profits, capped at £7,500. For those experiencing a drop in turnover below 30%, the grant is worth 30% of three months average trading profits, capped at £2,850.
The Self-employment Income Support scheme closes on 30 September.
Coronavirus Statutory Sick Pay Rebate Scheme
Through this scheme, employers can claim back the Statutory Sick Pay (SSP) paid to current or former employees.
Employers can claim back up to two weeks of SSP if:
employees were off work on or before 30 September 2021
you have already paid your employee’s sick pay (use the SSP calculator to work out how much to pay)
you’re claiming for an employee who’s eligible for sick pay due to coronavirus
you have a PAYE payroll scheme that was created and started on or before 28 February 2020
you had fewer than 250 employees on 28 February 2020 across all your PAYE payroll schemes
Employers must submit or amend claims by 31 December 2021.
VAT reduction for hospitality, accommodation and attractions
Businesses in the hospitality, hotel and holiday accommodation sectors plus certain attractions can apply a 5% reduced rate of VAT until 30 September 2021. From 1 October 2021 to 31 March 2022, a rate of 12.5% applies.
Latest small business coronavirus support and help
If you have any questions or would like to share your experiences accessing the government's coronavirus business support, connect with Dan on Enterprise Nation.