Published on: 22 October 2020
Earlier today the Chancellor announced further support for businesses and the self-employed.
He announced changes to the Job Support Scheme to enable more people to benefit from the scheme, additional support for businesses in high alert areas and larger grants for sole traders.
Job Support Scheme
The changes mean that an employee is eligible for the scheme even if they only work 20% of their normal hours – instead of the 33% which was the initial requirement. Employer contributions will also decrease to 5% with a greater proportion of the employee’s salary now being covered by the UK Government.
Business grants
The Chancellor also said the grants available to businesses in high alert areas would be extended.
British Marine understands these grants are primarily to support the hospitality, leisure and accommodation sectors. The grants will be retrospective, with businesses in high alert areas able to backdate claims to August and receive a grant of up to £2,100 per month.
Support for Self-Employed
The final measure announced by the Chancellor was an increase in the grants available to the self-employed. The grants have been doubled to 40% of previous earnings. This means the maximum grant available is now £3,750.
British Marine would encourage members to familiarise themselves with the support available and to check their eligibility.
For further information on the support available, please visit our dedicated Coronavirus microsite.