There have been a number of announcements and changes made recently to Government support for businesses. Up to date details of the support available to Northern Ireland Businesses can be accessed on the NI Business Info Website on the following link https://www.nibusinessinfo.co.uk/business-support/coronavirus
The following Support is available:
- Large NAV Business Grant - The Large NAV Business Grant provides financial support to businesses that occupied commercial premises with an NAV (Net Annual Value) over £51,000 at 1 March 2021 that were awarded the 12-month rates holiday for 2020-21, subject to some exclusions. Further details https://www.nibusinessinfo.co.uk/business-support/large-nav-business-grant-ni-only
- Apprenticeship Return, Retain and Result Scheme - The Apprenticeship Return, Retain & Result Scheme (RRR) provides incentive payments to employers to support the return, retention and result for apprentices. Further Details: https://www.nibusinessinfo.co.uk/business-support/apprenticeship-return-retain-and-result-scheme-ni-only
- Recovery Loan Scheme - A loan scheme to support access to finance for UK business as they grow and recover from the disruption of the COVID-19 pandemic. Further Details: https://www.nibusinessinfo.co.uk/business-support/recovery-loan-scheme-uk-wide
- NI Apprenticeship Incentive Scheme - Financial incentive available to all employers to support the recruitment of new apprentices Further Details: https://www.nibusinessinfo.co.uk/business-support/new-apprenticeship-incentive-scheme-ni-only
- 12 Month Rates Holiday - Business rates exemption for the full financial year of 2021-22 for specific sectors hit hardest by the coronavirus pandemic. Further Details: https://www.nibusinessinfo.co.uk/business-support/12-month-rates-holiday-ni-only
- Self Employed Income Support Scheme (SEISS) - Grants to self-employed individuals or members of a partnership whose businesses have been impacted by coronavirus (COVID-19) Further Details: https://www.nibusinessinfo.co.uk/business-support/self-employment-income-support-scheme-seiss-uk-wide
- Coronavirus Job Retention Scheme - The Coronavirus Job Retention Scheme (CJRS) - also known as the furlough scheme - allows you to claim a grant to cover a portion of an employee's usual monthly wage costs for hours not worked. Further Details: https://www.nibusinessinfo.co.uk/business-support/coronavirus-job-retention-scheme-uk-wide
- Statutory Sick Pay Rebate - The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay (SSP) paid to current or former employees. Further Details: https://www.nibusinessinfo.co.uk/business-support/statutory-sick-pay-rebate-uk-wide
- Covid-19 Supply Chain Resilience Development - Advisory support and financial assistance up to a maximum of £25k available towards 50% of the first 12 month’s salary costs for a new, dedicated supply chain role within your business. Further Details: https://www.nibusinessinfo.co.uk/business-support/covid-19-supply-chain-resilience-development-framework-ni-only
- Film and TV Production Restart Scheme - The scheme helps film and TV shows struggling to get insurance for COVID-related risks to get back into production. Further Details: https://www.nibusinessinfo.co.uk/business-support/film-and-tv-production-restart-scheme-uk-wide
- Support for Businesses Paying Tax - All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. Further Details: https://www.nibusinessinfo.co.uk/business-support/support-businesses-paying-tax-uk-wide
- VAT Deferral - Find out how to pay VAT payments deferred between 20 March and 30 June 2020 - you can pay now or join the VAT deferral new payment scheme. Further Details: https://www.nibusinessinfo.co.uk/business-support/vat-deferral-uk-wide
If you would like any help with any of the above support measures please contact us by phone or email.
