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Update on Further Measures as of 31 October 2020

Update on Further Measures as of 31 October 2020

Self-employed

There was no new information about support for the self-employed, therefore the next SEISS grant will be given at 40% of average profits, although this could change before applications for those grants open.

Local grants

Where businesses have been required by law to close, they will be able to apply for a support grant from their English local authority, based on the rateable value of their business premises:

Rateable value of premises Grant payable per two weeks
Up to £15,000 £667
£15,001 to £50,999 £1000
£51,000 or more £1500

Different local business grants will be available in Wales, Scotland and Northern Ireland.

Mortgage holidays

Applications for mortgage holidays for up to six months were due to close on 31 October, but this facility will now remain open for borrowers who have been impacted by coronavirus. The FCA will announced details of who can qualify in the next few days.

We are ourselves issuing regular updates via our website and e-mail cannons. If you are not receiving these and would like to be added to the list please e-mail [email protected] with the subject “Add me to your COVID-19 e-mails”.