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Coronavirus Advice  •  financial advice  •  government

Lockdown 2.0: Extra support measures announced for businesses and individuals

By RJP LLP on 3 November 2020

England is entering a second lockdown on 5 November 2020 and the government has announced some additional support measures to ease the strain for people.

Here are the details currently available together with our earlier guides explaining the extended furlough scheme (CJRS) and the enhanced self employed support scheme (SEISS).

Bounce Back Loan Scheme Extended

Businesses can continue to be able to apply to banks for government-backed support loans like the Bounce Back Loan Scheme until 31 January, compared with the previous 30 November deadline. Learn how to get a Bounce Back Loan in our earlier article.

Grants for business rates

If a business based in England is legally required to close, a fortnightly support grant of up to £1,500 for the rateable value of their business premises will be available from their local authority. This is payable as follows:

Rateable value of premises Grant payable per two weeks (England only)
Up to £15,000 £667
£15,001 to £50,999 £1000
£51,000 or more £1500

Mortgage holidays

Six monthly mortgage holiday applications were due to close on 31 October but will now stay open for borrowers affected by coronavirus. Details of who can qualify will be announced by the FCA in the next few days.

If your business needs extra support over the coming weeks, please contact us via partners@rjp.co.uk

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SEISS 5 challenges taxpayers with new ‘turnover test’ to receive grants

Post-Covid tax year resolutions for the ‘new normal’

Tax relief on furnished holiday lettings and Covid-19

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I wanted to write and express our gratitude for your help and hard work in getting Probate through and settling all the taxes. I am so pleased that we selected RJP, as your professional help and updates throughout this process have been invaluable. If at any time in the future Probate assessment may be needed, you will be our first port of call. Once again, many thanks to the whole team.

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I just wanted to drop you a short note to say how grateful I am for the support that RJP has provided over the past 4 weeks while our Financial Controller was away. I struggle to comprehend how much work your staff get through during their weekly visits and they are always a pleasure to have around the office.

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I would like to take this opportunity to thank you very much for the amazing job you have done navigating us through this whole process. My family and I also really appreciate the care and compassion demonstrated by you and your team in every dealing. Our thanks to everyone.

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RJP provide our company with a complete service which takes the stress and strain away from the day to day running of our accounts! Their understanding of our business and their patience and advice is invaluable.

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60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.

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