The Government understands that this is a very challenging time for the UK’s hospitality and leisure sectors, and it recognises that the hospitality and leisure sectors have been disproportionately affected by the pandemic.
The Government is continuing to collect evidence on the impact of the pandemic on the hospitality industry and work with businesses and representative groups to ensure that support provided is right for this industry and the economy as a whole.
The Government has acted to deliver support to these sectors by extending the CJRS until March and provided cash grants of up to £3,000 per month to help businesses that are closed with their costs. The Government has also announced an additional £1,000 Christmas grant for ‘wet-led pubs’ in tiers 2 and 3 who will miss out on business during the busy Christmas period.
In addition, the Government has provided £1.1 billion of Discretionary Grant funding for local authorities to target support to the businesses that are most important to their local economy. Closed businesses are also still able to access wider support, including:
o Affordable, Government-backed finance through loan schemes extended until the end of January 2021 and ‘Pay as You Grow’ options for businesses which have taken out loans, to make repayments over the long term;
o A VAT deferral for up to 12 months;
o A 12-month business rates holiday;
o A moratorium on evictions to protect commercial tenants;
o Targeted support through the temporarily reduced rate of VAT (5%)
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