24/03/2022

Business Update – 23 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

UK Ended All COVID-19 International Travel Restrictions

All remaining pandemic-related international travel restrictions, including filling in Passenger Locator Forms before arrival and compulsory pre-departure tests for unvaccinated travellers, have been lifted by the UK government from Friday last week.

New Tax Plan

A tax cut for nearly 30 million UK workers through a rise in National Insurance thresholds was announced. A new Tax Plan to give families further help with the cost of living was also unveiled, reducing fuel duty on petrol and diesel by 5p per litre for the next year. There will also be a £5 billion income tax cut from 2024.

UK Inflation Jumps to 6.2%

UK’s inflation reached 6.2% in February, up from 5.5% in January. This is due to the rising cost of petrol and diesel and a wide range of goods, including food.

All Schools to Have High Internet Speed by 2025

Every school across the country will be able to access high-speed internet by 2025, with the government allocating a £150 million fund to support schools most in need to upgrade their Wi-Fi connections.

Get Ready for £150 Council Tax Rebate

Households across England are being urged to set up direct debits with their local council to receive a £150 council tax rebate that will help millions of families manage costs of living. Around 20 million households in council tax bands A to D – including 95% of rented properties – are set to benefit from the £3 billion council tax rebate, which doesn’t have to be repaid.

£350 Government Support to Help with Energy Costs

The Energy Bills Rebate will provide around 28 million households with an upfront discount on their bills worth £200 from October. Households in England, which are in council tax bands A-D, will also receive a £150 rebate from April.

This £9.1 billion government support is intended to help with the cost of living after the increase in energy costs.

Over £700 Million New Grant Fund for Businesses Impacted by Omicron

Businesses in England most impacted by the Omicron variant will be able to tap into a new £700 million support package in the coming weeks.

Firms in the hospitality, leisure and accommodation sectors will be able to apply for one-off grants of up to £6,000 per premises depending on rateable value. In addition, more than £100 million worth of discretionary funding is also being made available for local authorities to support other businesses.

£1 Billion Support for UK Businesses Impacted by Omicron

The government is providing one-off grants of up to £6,000 per premises for businesses in the hospitality and leisure sectors in England. More than £100 million discretionary funding will be made available for local authorities to support other businesses.

The government will also cover the cost of Statutory Sick Pay for Covid-related absences for small and medium-sized employers across the UK. To enable more cultural organisations to apply for support during the winter, further funding amounting to £30 million will be made available through the Culture Recovery Fund.

Deadline Extension for Non-Domestic Renewable Heat Scheme

The Department for Business, Energy and Industrial Strategy confirmed that it is proposing a 12-month extension to the non-domestic RHI’s application deadline, moving the date from 31 March 2022 to 31 March 2023.

Also set to be extended are the second and third allocations of the scheme’s tariff guarantee, which will allow organisations to secure a fixed tariff before their installation is commissioned and accredited.

Cold Weather Payment Scheme

From 1 November 2021, households have become eligible for the Cold Weather Payment scheme which involves a weekly reduction on their energy bills.

You can receive this payment if the average temperature in your area is recorded as, or forecast to be, zero degrees celsius or below over seven consecutive days. Eligible individuals will get £25 for each seven-day period of very cold weather between 1 November 1 and 31 March 2022.

£500 Million Plan for Jobs Expansion

Workers leaving the furlough scheme and unemployed individuals over 50 years old will be supported back into work as part of more than £500m expansion of the government’s Plan for Jobs. People earning the lowest wages will also benefit and existing schemes targeting young people will be extended into next year as part of the new package.

Starting in April 2022, the Government is enhancing its programme of support for workers on Universal Credit.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Contact us

Got a question?

Fill in our contact form and one of our team members will get in touch with you shortly.