Latest News

Government announces rise in new homes built last year

20 January 2021

Figures published in January 2021 show a 111 per cent increase in housebuilding in England from July to September 2020 compared with the previous quarter. Data for the same period also show a quarterly rise of 185 per cent more dwellings completed. Read More...

Winter weather precautions

20 January 2021

Propertymark Industry Supplier, Gallagher offers practical steps that can help agents and their clients reduce the risk of damage to property as areas of the nation are set to see further warnings of more inclement weather to come. Damage caused by the escape of water from frozen pipes and other equipment can be extremely costly in repairs and disruption. Read More...

New Help to Buy: Equity Loan Scheme

19 January 2021

First-time buyers looking to purchase a home in England will continue to receive Government support under the revised Help to Buy: Equity Loan Scheme (2021-2023), which is now open for applications with buyers able to move into their new properties from 1 April 2021. Read More...

Further calls to Government to extend Stamp Duty cut

15 January 2021

A group of 50 Conservative MPs are calling on the Chancellor, Rishi Sunak to extend the stamp duty cut for properties worth less than £500,000 a further 12 months in a major boost alongside The Telegraph’s ‘Stamp Out the Duty’ campaign. Read More...

 

Furlough scheme extended for new national lockdown

Tuesday 03 November 2020

Following the Government announcement on a second national lockdown in England, due to begin on Thursday 5 November, the Job Retention Scheme has been extended.

There will be many of you who are concerned about your livelihood and your businesses. We wanted to outline what financial support is available, including the extension of the furlough scheme, so that you are aware of the support that can help you during this difficult time.

Job Retention Scheme Extension (furlough)

The Job Retention Scheme has now been extended to cover the duration of the new national lockdown. The scheme payments will also be back at 80 per cent up to £2,500 per month.

The scheme will include all employees who were employed and registered with HMRC before 30 October 2020.

Self-employed Income Support Scheme (SEISS)

If you are self-employed and your business has been significantly affected by the coronavirus pandemic, you may be able to benefit from the extension of SEISS.

An extra six months have been added to the scheme in two three-month periods; 1 November 2020 to 31 January 2021 and again between 1 February 2021 through to 30 April 2021.

You will be able to claim 40 per cent of your average monthly profits up to £3,750 per three-month period.

Business grants

Mainly aimed at hospitality and leisure businesses that have been required to close due to COVID restrictions, however, if your business has needed to close or has been severely impacted by the restrictions, you may be eligible for a Local Restrictions Support Grant (LRSG).

View the Government fact sheet for more information on eligibility and grant amounts.

Bounce Back Loan Scheme (BBLS)

Bounce Back Loans are still available for small and medium-sized businesses to borrow between £2,000 and up to 25 per cent of their turnover. There will be no interest to pay for the first 12 months of the loans.

Applications close on 30 November 2020.

Deferral of VAT payments due to coronavirus

Businesses that took advantage of the VAT deferral earlier in the year can now arrange to pay in interest-free instalments over a longer time period up to March 2022, instead of March 2021.

More information can be found on the Government website.

Job Retention Bonus Scheme

If you have employees who have come back from furlough and remain continuously employed until 31 January 2021, you may be able to claim a £1,000 taxable bonus for them.

To find out if you qualify, the scheme page has more information.

Scotland, Wales and Northern Ireland

Government support is stated as being available to businesses across the UK however we understand that discussions continue between the Treasury and the devolved administrations as to eligibility in relation to the nature of the lockdown measures. As we have updates about this, we will ensure that our members know as soon as possible.