Here is our latest business news on Covid-19 Government grants and supports.
We can reveal the latest statistics from HM Revenue and Customs for the Coronavirus Job Retention Scheme (CJRS), the Self-Employment Income Support Scheme (SEISS), and the VAT payments deferral scheme.
The Key statistics
- The CJRS total number of furloughed employees was 9.6 million with 1.2 million employers using the scheme and the total number of claims made is £34.4 billion. The scheme runs until 31 October.
- The SEISS data shows that Tranche 1 claims totalled 2.7 million people and this totalled £7.8 billion. Tranche 2 Claims opened on Monday 17 August
- The VAT payments deferral scheme was launched on 20 March 2020. Statistics show that on the three filing dates ending 7 April, May, June approximately 40% of all businesses eligible for the deferment did so. The total amount of deferred VAT amounted to £27.5 billion.
How Alan Patient can Help
Clearly these are vast sums and if you have taken advantage of Government support, it is now essential to plan for their ending and a return to running your business without them. Please talk to us about planning forward and taking actions, we have considerable experience in helping our clients adjust, re purpose and pivot into new areas. We also help many of our clients with cash flow planning which will be critical as we enter the latter part of the year. We also offer many other services which can be found here.
We have the tools and are happy to help you with any of the above.