Covid-19 Support Winding Down
In this blog we consider the upcoming Spring Statement; the closure of the SSP Rebate Scheme; and applications for COVID-19 grants that are still available:
Spring Statement is the time to act, says CBI
Coronavirus SSP Rebate Scheme set to close on 17 March
Businesses urged to apply for remaining COVID-19 support grants
Spring Statement is the time to act, says CBI
The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI).
The Spring Statement will take place on 23 March 2022. The CBI has set out a range of policies it says are aimed at sparking growth via business investment.
These include a permanent investment incentive to replace the super-deduction. The business group says this will boost business investment by £40 billion a year by 2026.
It also wants to see the Apprenticeship Levy turned into a Skills Challenge Fund. In addition, the government should tackle high energy prices by improving home energy efficiency through new grants for decarbonised heating systems.
CBI Director General Tony Danker said:
‘Business backs the Chancellor’s desire to foster a renewed culture of enterprise and deliver a more ambitious growth rate. His vision set out only last week to leverage the tax and regulatory system to promote business investment, upskill Britain’s workforce and stimulate innovation is the right recipe for future success.
‘Faced with a record tax burden, a cost-of-living crisis, wage pressures and the end of the super-deduction, firms will be looking to the Spring Statement for a clear signal that the government’s ambition will be matched by action.
‘That is the time to act if we want to push the economy onto a higher growth trajectory. It takes time for policies to kick in and deliver results, so there’s no point in waiting until an Autumn Budget.’
Internet links: CBI website GOV.UK
Coronavirus SSP Rebate Scheme set to close on 17 March
The Statutory Sick Pay Rebate Scheme (SSPRS) will close on 17 March 2022.
The SSPRS was reintroduced by the government on 21 December 2021 for employers with fewer than 250 employees.
The maximum claim per employee is two weeks at the statutory sick pay (SSP) rate of £96.35 per week (£192.70 in total), which is the rate for 2021/22 (£99.35 2022/23). The employer’s claim is also capped at the number of employees in its PAYE scheme on 30 November 2021.
In a statement, the government said:
‘You have until 24 March 2022 to submit any new claims for absence periods up to 17 March 2022, or to amend claims you have already submitted.
‘You will no longer be able to claim back SSP for your employees’ coronavirus-related absences or self-isolation that occur after 17 March 2022.
‘From 25 March we will return to the normal SSP rules, which means you can revert to paying SSP from the fourth qualifying day your employee is off work regardless of the reason for their sickness absence.’
Internet link: GOV.UK
Businesses urged to apply for remaining COVID-19 support grants
Businesses are being encouraged to apply for remaining coronavirus (COVID-19) grant funding from local authorities.
Hospitality, leisure and accommodation businesses can still apply for one-off cash grants of up to £6,000 through the Omicron Hospitality and Leisure Grant scheme.
The funding is made up of £556 million available through the Omicron Hospitality and Leisure Grant (OHLG) scheme and a further £294 million through the Additional Restrictions Grant (ARG) scheme.
The OHLG scheme provides businesses in the hospitality, leisure and accommodation sectors with one-off grants of up to £6,000 per premise.
To provide further support to other businesses, the ARG scheme provides councils with funding they can allocate at their discretion to businesses most in need, such as personal care businesses and supply firms.
Paul Scully, the Minister for Small Business, said:
‘We’re working to get our economy running on all cylinders again so we can focus on making the UK the best place in the world to work and do business, creating jobs along the way.
‘Eligible businesses should apply as soon as possible for the grants available to help them put the pandemic behind them and get on a sounder footing.’
Internet link: GOV.UK
This information is subject to change and is not professional advice. Refer to our disclaimer for more details.
