The Winter Economic Plan
Extra Help for Small Business Owners
Here are 5 extra support offerings for small business owners announced on 24th September 2020
The Government has extended the 15% VAT cut for the tourism and hospitality sectors to the end of March next year.
![COVID-VAT-PJCO-Peter Jarman](https://peterjarman.com/wp-content/uploads/2020/09/15-vat-rate.png)
Businesses who deferred their VAT between March & June 2020 will no longer have to pay a lump sum at the end of March next year. They will have the option of splitting it
![COVID-VAT-PJCO-Peter Jarman](https://peterjarman.com/wp-content/uploads/2020/09/vat-defferal.png)
The Self-Employment Income Support Scheme extension will support viable traders who are facing reduced demand over the winter months, covering 20% of average monthly trading profits via a third government grant payment.
![SEISS-COVID-PJCO-Peter Jarman](https://peterjarman.com/wp-content/uploads/2020/09/SEISS.png)
From 1 November, for the next six months, the Job Support Scheme will protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19. The graph explains everything!!
![Job support-COVID-PJCO-Peter jarman-accountants](https://peterjarman.com/wp-content/uploads/2020/09/Job-support-sc-heme.png)
The application deadline for all coronavirus loan schemes – including the Future Fund – has been extended to 30 November ensuring even more businesses can benefit from government-backed support.
Small businesses which have borrowed under the Bounce Back Loan Scheme will be offered the choice of more time and greater flexibility for their repayments.
![PAYG-COVID-PJCO- Peter Jarman-accountants](https://peterjarman.com/wp-content/uploads/2020/09/pay-as-you-grow.png)
If you need any support with the COVID-19 schemes please give us a call and we will be happy to help you out!
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