Increased Financial Support for Businesses and Workers

The Government have today announced further increased support for businesses and workers affected by the coronavirus pandemic. A summary of these are as follows:
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Job Support Scheme (JSS)
The JSS has been further extended for open businesses. The Government will now provide up to 61.67% of wages for hours not worked up to a cap of £1,541.75 per month (previously 33% capped at £697.92). The employer contribution to the unworked hours of employees will reduce from 33% to 5% with employees now only needing to work a minimum of 20% of their normal hours in order to qualify.
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Business Grants
Cash grants of up to £2,100 per month will be available for businesses facing Tier 2 restrictions where the business is not legally closed. Grants will primarily be targeted at the hospitality, accommodation and leisure sector with retrospective grants being available for businesses in areas where Tier 2 restrictions have already been applied.
The available grants will be:

• For properties with a rateable value up to £15,000 will receive up to £934 per month
• For properties with a rateable value between £15,000 and £51,000 will receive up to  £1,400 per month
• For properties with a rateable value over £51,000 will receive up to £2,100 per month.

 
Self Employed Income Support Scheme (SEISS)
The SEISS support will be doubled from 20% to 40% of the average monthly trading profits with new cap of £3,750. The qualifying criteria remains unchanged and can be found here