On 6th April 2022 the employer’s national insurance rate increased to 15.05% from 13.8%. Employer’s NI is an additional tax liability payable by employers on the gross wages of their employees. For a company with 10 employees and an annual payroll bill of £300,000 this is an annual increase in costs to the employer of £3,750.
New business grants available to boost recovery for small and medium sized businesses
6 August 2020
Gavin Hooker
COVID-19, Payroll, People
The minister for Regional Growth and Local Government announced £20 million of new funding to help businesses across England get back on track!
Small and medium-sized businesses will have access to grants of between £1,000 and £5,000 to help them access new technology and other equipment as well as professional, legal, financial, or other advice to help them get back on track.
What do these grants cover?
There is currently limited information available about these grants, but ultimately businesses will be able to use these new grants to pay for the expertise, equipment, and technology they need to adapt, recover and rebuild.
If you need to adopt new technology, such as Cloud accounting, or need other specialist advice, then these grants could help your business.
The funding is being provided to address immediate needs and all grants must be awarded by 28 February 2021 and all activity fully completed by 31 March 2021.
How do I make a claim?
The support will be fully funded by the government and will be distributed through Growth Hubs embedded in local areas across England. Eligible businesses are advised to contact their local Growth Hub for details of how to access support through the scheme.
The website and contact information for each Growth Hub can be accessed via The LEP Network.
The scheme is yet to open to applications and further details on the eligibility process and claims system will be provided in due course. We will provide more detail on these grants as more information is published.
We are here to support your business, if you have any concerns please call us or email Mark or Andrew.
The content in this blog is correct as at 06/08/2020. See terms and conditions.
