Lockdown 2 Government Support Summary

This email takes you through the announcements and what it means for your business.

On the one hand it is great to see the government making available this help. But this probably means we will see fairly strict lockdown conditions between now and March 2021. We hope we are wrong about this, but in your contingency/scenario planning, particularly in regard to cash, please extend this 4-week lockdown until the end of March. If you need help with your business planning, please get in touch.

Here are the full details from the Government’s announcement.

The Self-Employed Income Scheme
On 30th November you will be able to claim a grant for up to 80% of your profits, to cover you for Nov – Jan 2021. This is capped at £7,500. They also declared there will be one more grant which will cover the period Feb – Apr 2021. Details are yet unknown of when this will be paid or for how much.

To receive these grants, you need to have received the previous grants and it is currently anticipated that this portal will open towards the end of this month.

The ‘Furlough scheme’
This has now been extended to the end of March. Which in effect means that we are unlikely to see the Job Support Scheme operational… You can Furlough any member of staff, as long as they were on the payroll before Oct 30th 2020. And the government will pay up to 80% of their wages, capped at £2,500 per month.

As a result of extending the Furlough scheme the planned Jan 2021 ‘Job retention bonus’ of £1,000 for any employee you Furloughed who you still employed has been deferred. Until when? Who knows?

Help with cash flow
If you haven’t taken a Bounce Back Loan or didn’t take the maximum amount available to you, you can now top this up. And you will be able to take out a CBIL or Bounce Back Loan now until the end of Jan 2021.

Mortgage payment holidays for those who haven’t taken a payment holiday will be available for 6 months, without this being noted on their credit files.

As with everything these days the above is all subject to change but this looks like what we will be working with for the weeks ahead as a minimum.

Additional grants???

There are meant to be more local authority grants coming but more details are yet to be released and these may be discretionary rather than automatic but watch out for updates from respective local authorities over the coming weeks and hopefully within the next 10 days or so.

We have also got a fantastic link below to what grants you could perhaps access but which are not so widely known which can be accessed here so please feel free to follow this link here to see what you could access.

Some inside information perhaps?

We have heard on the grapevine; though not confirmed, the following:

  1. The Government are allegedly working on a new support package which is currently going through the EFG and may mirror the current CBILs scheme but be more easily accessible but please note whilst we have heard this on good authority this is not guaranteed.
  2. Following on from the above the second BBL opportunity for some; it is widely known that the first bounce back loan was never intended to cover the lengthy period of uncertainty that we now face.  There are also now rumours of a second bounce back loan opportunity exceeding the original 25% of turnover/£50k limited to reflect the increased term that the original loan was never designed to cover.

Watch this space but we thought we would share these with you as they came from a source well connected within the Bank of England.

Government Support. Self-employment grant. CBILs and Bounce Back Loans

Second and final self-employment grant

You can as of today now claim for the second and final self-employment grant.

Don’t forget this does not apply to limited companies I am afraid.

The second and final taxable grant made available by HMRC amounts to 70% of your average monthly trading profits and is again paid out as a single instalment covering 3 months worth of profits.

This payment is capped at £6,570 in total.

The claim can be made in the same was you made the first claim and it must be made by on or before 19 October 2020.

Further information regarding the claim and the making of it can be found here.

CBILs and Bounce Back Loans

We thought we best clarify; for the avoidance of confusion, the current deadlines in place by the Government as to when it is currently proposed that each scheme be closed:

CBILs – it is current proposed that this will remain in place up until the end of September 2020 but this may be extended.

Bounce back loans – it is current proposed that these will be available up until 4 November 2020 but again is subject to revision.

Please note that the above deadlines are in reference to applying for these so if you have either of these loans already, the agreement you already have will still stand until the end of the agreed term.

Additional funding you might not be aware of

The Government has recently announced an additional £20 million of suport that is being made available through local Growth Hubs and can be used to fund:
  • one to many events providing guidance as to how to respond to coronavirus
  • small grants to access specialist professional advice
  • small grants to cover the purchase of minor equipment to adapt or adopt new technology
More information can be found here.

Business Interruption Insurance

There has recently been a rather large court case regarding this that we believe is going to appeal but if you think you might be eligible for this and have previously been turned away we recommend that you speak with your insurance company again to clarify any impact on you.

Bounce Bank Loan Update: Webinars

Continuing on from our newsletter earlier this week we just wanted highlight a few things that have been picked up since:

  • There has been further guidance issued which can be found here
  • The record time between application and receipt of funds has been 7 hours so there is the opportunity to access this money very quickly
  • Although the application process is very straight-forward, unless you are 100% confident in the figure you need and why, then please do not apply without first speaking with us
  • If you have not yet applied, we strongly suggest you consider this as this is a great opportunity to use this funding if you have a justifiable reason for doing so, so please do not ignore this
  • We have heard on the grape vine; though this may be incorrect, that this loan will disappear before the CBILS loan, so don’t delay too long, though we don’t have any fixed timescales just yet
  • For those that have accessed the larger CBILS loan; thus taking more than the £50k limit, we are seeking guidance from the banks as to whether a repayment could be made by an imposed bank deadline to bring this debt to £50k or less then switch this across to the bounce bank loan scheme thus benefiting from the lower rate of interest.  We wouldn’t suggest you do anything reference this yet though so don’t start contacting your bank reference switching as we are still unsure as to what the future months hold.

In short, don’t ignore this and speak with us if you want some guidance and assistance.

With everything that has been going on; and if you are still unsure as to what support you can get access to, why not try this Government link that can be accessed here to self-assess what you might have missed and can get access to.

Self-assessment grant eligilibility

First of all, the portal is still not live and we have no further information regarding this other than are told that this should be live by the middle of this month.

There is an eligibility status check that you can use though that can be accessed here and you can set up your personal government gateways at the same time if you do not have one already.


As promised, we have lined up a fantastic range of speakers that perfectly dovetail the support that we have already provided to help you ‘Strike-back’ when this time passes and not just make a difference now but make an ever lasting impression and actually come back stronger.

For next week we have the following webinars for you to book onto:

Strike Back Strategy Session – Survive and Thrive with Steven Briginshaw
Tuesday 12 May, 11AM (book here)

Are you in the thick of this lock-down and have a number of things you want to do but not sure what to do, when by and what the impact of these decisions would be?  If so, this is the webinar for you.

In this session we will be focusing on how you take the necessary actions and are held accountable for this spare time you have to not just know your numbers, but improve your numbers, your business and ultimately you personally.

You should have already seen the information we have shared about the Clarity software but if you want to watch our webinar on this click here.

Your Marketing Bounce Back with Ford Henderson
Wednesday 13 May, 10.30AM (book here)

Are you struggling with marketing your business in the current climate and even uncertain as to whether it is ethical that you do market your business?

In this session we will be looking at how you can shake up your marketing and you know how I have already mentioned that you should take your business, turn it upside down and put it back together again, well this adds onto this how you then know what your marketing plan will look like to get the financial return for the changes you’ve made.

We’ve known Ford for some time and worked alongside him but if you want to know a little bit more information about him and his business, you can access his website here.

Leading Your Team To Strike Back with Alison Reynolds
Thursday 14 May, 11AM (book here)

If you have furloughed your team; have you considered how their morale will be when they return to work?  If you haven’t furloughed your team have you considered how they might be feeling right now; whether they are working remotely are not?

More than ever you are going to need your team around you; pulling in the right direction, when lock down is lifted and Alison will go through not just what should be done now but what should be done moving forward also.

For a little bit more information about Alison and her business; aside from the fact she is amazing and has worked with our team, you can access her website here.

There are more amazing webinars to follow over the remainder of this month so keep an eye on these newsletters.

Ian Prior - Director of Caretech Systems Ltd

"We have used Tennick Accountants now for a few years and what a breath of fresh air. Regularly discussing more than tax and accounts and recently they convinced me to join one of their 12 week workshops that in one session alone has saved me thousands of pounds already."

Ian Prior – Director of Caretech Systems Ltd

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