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Budget March 2021

UK Government financial support for business, employees and self-employed

In the Budget on Wednesday 3 March 2021, the Chancellor set out plans for what we all hope will be the last phase of the financial support to help businesses, employees and self-employed financially survive the impact of the coronavirus pandemic.

The key points of the latest announcement are:

  • Extend the Coronavirus Job Retention Scheme further, until the end of September 2021.
  • Details about the fourth Self-employed Income Support Scheme grant covering February 2021 to April 2021 and confirmation that there will be a fifth grant.
  • The launch of a new Recovery Loan Scheme to replace the existing business loan schemes which close at the end of March 2021.

You can find more details of all the economic support by downloading the PDF document.

Please note this guide is intended to inform you about the financial support packages available.  We know that some businesses may not qualify for some of the support and you should check with the relevant authorities for your own business.

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Posted by David Simpson, DipFA (BA Hons)
Financial Adviser, Newcastle Financial Advisers. Part of the Newcastle Building Society Group