How coronavirus business support changes from July

How coronavirus business support changes from July
Dan Martin
Dan MartinDan Martin Content & Events

Posted: Tue 29th Jun 2021

From July, there are various changes to the government's coronavirus business support as schemes are wound down. Read our guide.

Coronavirus Job Retention Scheme

The Coronavirus Job Retention Scheme covers 80% of furloughed employees' wages. Up until June, the government's covered the full 80% but in July, the level of grant covered by the government reduces to 70%, up to a maximum £2,187.50 with employers covering the remaining 10%, up to £312.50.

The government contribution falls again in August and September to 60%, up to a maximum £1,875, and employers contributing 20%, up to £625.

The scheme is due to end completely on 30 September.

coronavirus job retention scheme

Read a full guide to the Coronavirus Job Retention Scheme.

Business rates in England

Until June 2021, retail, leisure and hospitality businesses received a 100% discount on business rates. For the period from 1 July 2021 until 31 March 2022, the discount is 66% meaning that businesses need to pay 34% of their business rates bill.

Self-employment Income Support Scheme

The government has previously provided four grants to the self-employed. The fourth grant covered 80% of three months average trading profits, capped at £7,500 in total, for all eligible self-employed people.

The fifth grant will be available from late July and differs in the amount available depending on the level of impact of the pandemic on turnover. For eligible self-employed people suffering a loss in turnover of 30% or more, the grant will be worth 80% of three months average trading profits, capped at £7,500. For those experiencing a drop in turnover below 30%, the grant will be worth 30% of three months average trading profits, capped at £2,850.

Read the latest on the fifth Self-employment Income Support Scheme fifth grant.

VAT payment deferrals

Businesses were able to defer paying VAT in 2020. They had until 21 June 2021 to join a scheme to split repayments into instalments and until 30 June to make an arrangement to pay under HM Revenue & Custom's Time to Pay scheme.

Latest small business coronavirus support and help

We're keeping you updated on the latest information on how to access all of the government's coronavirus small business support here. You can also find advice on Enterprise Nation's coronavirus small business support hub.

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.

Dan Martin
Dan MartinDan Martin Content & Events
I''''m a freelance content creator and event host who helps small businesses and the organisations that support them. I have 18 years of experience as a small business journalist having interviewed hundreds of entrepreneurs from billionaires like Sir Richard Branson to the founders behind brand new start-ups. I''''ve worked for a range of leading small business publications and support groups, most recently as head of content at Enterprise Nation where I was responsible for the prolific output of content on the company''''s blog and social media. I''''m based in Bristol where I run and host regular events with the local small business community and have strong connections to major business organisations in the south west region. In total, I''''ve hosted over 50 events; from intimate meet-ups to conferences with an audience of hundreds including events for international brands like Facebook and Xero. I''''m also a big fan of podcasts having hosted Enterprise Nation''''s Small Business Sessions as well as lots of online events including Facebook Live interviews, webinars and three live web chats from inside 10 Downing Street. With my partner, I co-run Lifestyle District, a lifestyle blog focused on culture, art, theatre and photography.

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