I’m sure we all saw in the news on Friday that this has been extended for 3 months, but here is just a quick summary of the main points:
- the scheme will run for another 3 months, covering June, July and August
- the second grant will be paid in one lump sum in August
- this time the grant is worth 70% of average monthly trading profits, capped at £6,570
- all the same criteria to qualify as for the first grant, so if you qualified and received that, you will qualify for this payment
- applications for the grant will open in August so you cannot do anything until then to receive the money
- you can still apply for the first grant until 13 July if you have not yet done so
- you DON’T have to claimed for the first grant to apply for the second. One of the criteria is that your business has been adversely affected by COVID-19, so it may be the case that it has only been affected in the later phase, in which case you would only apply for the second grant
This is all the information currently available: further guidance will be published on June 12 so we will bring you this when we have it.
As usual, if you have any questions, please do not hesitate to get in touch with Rosie Forsyth at Wilkins & Co.