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    Further support announced for businesses during second lockdown – SEISS, CBILS, Bounce Back Loans, business grants and more…

    As well as extending the Coronavirus Job Retention Scheme (CJRS), the Government has announced it will be implementing further support packages to help businesses through the second lockdown. Please see below the details of everything we know so far.



    The Government has confirmed a further increase to the third instalment of the Self-Employed Income Support Scheme (SEISS).

    Self-employed individuals will now receive 80% of their average trading profits for November, December and January (rather than just 40% in December and January as originally announced). This means that the new maximum grant for the third instalment of the scheme stands at £7,500.

    The speed at which the grant will be delivered is also being improved. The original roll-out date for the third SEISS grant was 14 December 2020, however, this is now being fast-tracked to 30 November 2020.

    To be eligible for the SEISS grant, self-employed individuals must:

    – Have been previously eligible for the Self-Employment Income Support Scheme’s first and second grants (however, you do not have to have actually claimed either of the previous two phases, this can be your first claim)

    – Declare that they intend to continue trading and either:

    >Are currently actively trading but are impacted by reduced demand due to coronavirus; or

    >Were previously trading but are temporarily unable to do so due to coronavirus

    Although the self-employed individual must submit the claim themselves, our team of specialists are on hand to help with the calculation of the submission and can provide tailored advice. Get in touch with your usual PM+M adviser today or email

    See the Government’s full guidance here.


    Government backed loans – CBILS, Bounce Back Loans, Future Fund Scheme

    The application deadline for the Coronavirus Business Interruption Loan Scheme (CBILS), the Bounce Back Loan Scheme and the Future Fund Scheme has been extended from 30 November 2020 to 31 January 2021.

    If a business has not claimed the maximum under the Bounce Back Loan Scheme (i.e. less than 25% of their turnover, up to a maximum borrowing of £50,000) then, from next week, they will be able to top up their loan.


    Mortgage payment holidays

    The COVID-19 mortgage payment holiday has been extended beyond 31 October 2020. Individuals who have yet to claim a mortgage holiday can now do so for up to 6 months, without affecting their credit rating.

    Those who have already started a mortgage holiday will be able to extend this to 6 months, again without affecting their credit rating.


    English business grants

    Properties required to close under national or local COVID-19 restrictions will be eligible for a grant based upon rateable value:

    – Properties with rateable value of £15,000 or under – eligible for a grant of £1,334 per month or £667 per two weeks

    – Properties with rateable value of £15,000 to £51,000 – eligible for a grant of £2,000 per month or £1,000 per two weeks

    – Properties with rateable value of £51,001 or more – eligible for a grant of £3,000 per month or £1,500 per two weeks


    Here to help

    Don’t forget that our team are still here help and support you through these challenging times. For advice or guidance on anything in this article or other support available for you and your business, please get in touch with your usual PM+M contact or email, and we’ll direct you to the right person.


    This information is correct as of 5 November 2020. This blog is for general guidance only. Recipients should not act upon any of the information provided without seeking specific professional advice tailored to your circumstances, requirements or needs. Please contact PM+M before making any decisions based on any matters relating to this blog.

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