In The News
Further support offered to employers affected by Coronavirus restrictions
The Chancellor has announced an expansion of the Job Support Scheme to assist businesses forced to shut by law due to Covid 19 restrictions. The new rules take effect for a period of six months from 1 November and the scheme will meet two thirds of the cost of wages for the time the employees cannot work up to a maximum of £2,100 per employee per month.
The Chancellor also introduced an increase in business grants with up to £3,000 being paid every fortnight to businesses that have to close.
The details of new lockdown measures are due to be released at the beginning of next week, but it is expected that these will focus on the hospitality industry and leave sectors such as the motor trade untouched. It is hopefully therefore unlikely that motor retailers will be in the position to benefit from this new scheme.
We will continue to monitor announcements and if the situation develops so that motor retailers are required to close and will therefore qualify for assistance, we will issue updated guidance.
If you have any queries then please contact Michelle Malone ASE Tax Director at email@example.com
Or visit our LinkedIn page for more info:https://www.linkedin.com/company/ase-plc/