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Government help for SMEs – five financial support options

Government help for SMEs – five financial support options

If you are a small or medium business (SME), there is government support you can access now, to “help you invest and grow”. Claim up to £5,000 with the Employment AllowanceEmployment Allowance is a tax relief which allows eligible businesses to reduce their National Insurance contributions (NICs) bills each year. You can claim this if...

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Government scheme for EV charging points

Government scheme for EV charging points

The Government has introduced a new scheme whereby it will provide grants of up to £350 per electric vehicle charge point socket installed by accommodation businesses, with every business able to claim up to 40 grants. This grant is available for e.g. holiday parks/campsites, small hotels, and any other accommodation business with less than 250 employees,...

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Questions in the upper House on support for small hospitality businesses

Questions in the upper House on support for small hospitality businesses

The Marquess of Lothian raised the following question in the House of Lords: “To ask Her Majesty’s Government what assistance they are providing to UK hospitality businesses, especially small businesses, to help with (1) rising costs, and (2) the continuing effects of the COVID-19 pandemic, following their decision not extend the 12.5 per cent rate of VAT for hospitality.” The...

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Employment allowance rises to £5k for small businesses

Employment allowance rises to £5k for small businesses

The Chancellor announced in the Spring Statement that the Employment Allowance will rise from £4,000 to £5,000.  This allows eligible employers (small businesses with Class 1 National Insurance liabilities less than £100,000) to reduce their annual National Insurance liability by up to the annual allowance amount – now £5,000. See how and when to claim here.

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Commercial rent code of practice creates arbitration system

Commercial rent code of practice creates arbitration system

The Department for Levelling Up, Housing and Communities and the Department for Business, Energy and Industrial Strategy have published the revised Commercial Rent Code of Practice.   The Government says it hopes that this will help “tenants still reeling from the effects of the pandemic to confront their debts, come to an agreement with their landlord...

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Update on the rates holiday in Northern Ireland

Update on the rates holiday in Northern Ireland

Finance Minister Conor Murphy of the Northern Ireland Executive has updated the Assembly on the Draft Budget and additional funding. Minister Murphy said he intends: “to proceed to freeze both domestic and non-domestic regional rates next year, which will help with the rising costs faced by families and businesses. Unfortunately I cannot extend this to...

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Hospitality and tourism bodies state permanent VAT reduction benefits are ‘undeniable’

Hospitality and tourism bodies state permanent VAT reduction benefits are ‘undeniable’

Below is the press release from the Tourism Alliance and related bodies released on 4 February 2022: Cut VAT to save £4.6bn and ‘level up’, industry bodies urge Government Hospitality and tourism bodies state permanent VAT reduction benefits are ‘undeniable’, publishing a study that states cut will save the Government £4.6bn and create over quarter...

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Latest Additional Restrictions Grant guidance out

Latest Additional Restrictions Grant guidance out

The new guidance for the additional £102m Additional Restrictions Grant (ARG) funding is similar to the previous guidance. This third top-up is being allocated to councils on a per business basis, as per previous tranches. Some of the key features are: Unlike previous tranches, councils are not allowed to use this new funding for business...

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