Today (September 30) marks the end to a number of government support schemes.
The schemes were introduced at the start of the pandemic to help businesses and individuals.
Here’s a reminder:
- Self-Employment Income Support Scheme (SEISS)
This scheme, supporting the self-employed, was repeatedly extended providing five grants.
Claims for the fifth and final grant, which covers from May 1 – September 30, will close today.
- Coronavirus Job Retention Scheme (CJRS)
This scheme was introduced to allow employers, with less or no work available because of Covid-19, to continue to pay their employees.
The scheme allowed employers to claim a percentage of furloughed employees' usual wages for the hours not worked, up to a cap per month per employee.
This scheme closes today.
- Reduced VAT rates for hospitality
The reduced VAT rate for hospitality, holiday accommodation and attractions will change tomorrow (October 1, 2021.)
The reduced rate was brought in by the government to support businesses and jobs in the hospitality sector.
From October 1 until March 31, 2022 the rate will be set at 12.5% and will then revert to 20% from April 1, 2022.
- Stamp duty land tax rates holiday – England and Northern Ireland
A temporary cut in Stamp Duty Land Tax (SDLT) was brought in from July 8, raising the nil-rate band from £125,000 to £500,000.
After today, the rates in England and Northern Ireland will return to pre-COVID levels.
The rates in Wales and Scotland have already reverted back.
- COVID sick pay rebate scheme
This scheme allowed small and medium-sized employers, with fewer than 250 employees, to apply to HMRC to recover the costs of paying coronavirus-related Statutory Sick Pay (SSP).
The scheme claim period ends today, any outstanding claims must be made by December 31, 2021.
If you require further information on any of the above please contact the team on 01244 343504.