A Timeline: Government Support Packages Winding-down and repayments.

The support for businesses is gradually coming to an end and it is important that you are aware of your obligations and cashflow needs over the coming weeks and months.

Here is a breakdown of when the schemes close and when loan repayments are due based on current information.

July 2021

• Employers CJRS contributions start at 10% of the cost of unworked hours plus total costs of all employers NIC and auto-enrolled pension contributions.
• Business rate relief for retail, hospitality and leisure is reduced to two-thirds discount.
• Future Fund: Breakthrough opens (anticipated).
• Businesses should consider the need for a Time to Pay arrangement.
• Individuals should consider the need for a Time to Pay self-assessment arrangement.

August 2021

• Employers CJRS contributions increase to 20% of the cost of unworked hours plus total costs of all employers NIC and auto-enrolled pension contributions.

September 2021

• Furlough scheme ends 30 September 2021.
• Winding up petitions and statutory demands return on 30 September 2021.
• Hospitality VAT rate moves from 5% to 12.5% on 30 September 2021.

December 2021

• Recovery loan scheme closes.

March 2022

• Commercial eviction protection ends.
• Partial business rates relief for retail, hospitality and leisure ends.
• Final maturities under the Covid Corporate Financing Facility.
• Hospitality VAT rate returns to standard rate from 31 March 2022.