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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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28 February 2021 - Final self assessment tax return deadline

If you haven’t yet submitted your 2020 self assessment tax return and paid any tax due, you have until 28 February 2021 to submit your return before a penalty is issued. A 5% surcharge also applies to tax which was due on 31 January and is not paid by 28 February.