Updates on the Strategic Framework Business Fund, 4th SEISS grant and Furlough.
Funding Update - March 2021
Funding Update - March 2021. The Strategic Framework Business Fund provided grants to businesses required to close by law or to significantly change its operations due to COVID-19 restrictions from 2 November 2020. The Strategic Framework Business Fund will close to new applications on 22 March. This follows the First Minister’s Statement on 16 March which provided clarity on the easing of restriction and the re-opening of the hospitality, retail and leisure sectors.
The Budget 2021 - What you need to know
Further to Rishi's announcement this afternoon, we have summarised the main points below. Please bear in mind that the majority of this needs to be confirmed by the devolved powers of the Scottish Government, hopefully they will follow suit. The income tax rate, however, is something that sets Scotland and England apart, and it will be interesting to see if Nicola Sturgeon has her own take on this when it comes to announcing changes for the year ahead. We will update you in due course regarding the application process for the extension of SEISS grant and furlough, but don't envisage much change to the previous format.
Mobile and Close Contact Fund - £4,000
The Mobile and Close Contact funding is being provided by the Scottish Government. Eligible applicants will receive a one-off £4,000 payment (£2,000 for the period to end December 2020 and a further £2,000 to cover the period from January 2021 onwards). Once the fund opens, it will be open to applications for a four-week period.
The February update includes details of the Self Assessment Extension, Bounceback Pay as You Grow Scheme, the B-Able App launch and major VAT changes from 1st March.
An update to the terms of the lockdown top-up grants
Scottish Government have announced that the grant support for hospitality, retail and leisure businesses will be topped up by additional one off grants. Details enclosed.