This timeline shows key COVID-19 Government support expiry or commencement dates for businesses in 2021 – please click here to view this as a one page PDF. More information and detail is available in our Government Support for Business checklist.
1 April 2021
Restart (one off) Grants scheme launched – local authority grants of £6,000 per premises for non-essential retail business, and up to £18,000 per premises for hospitality and other sectors reopening.
6 April 2021
Launch of Recovery Loan Scheme – replaced business interruption loan schemes which closed in March - Loans will be available through a network of accredited lenders with the government guaranteeing 80% of the finance to the lender (expected to be open until 31 December 2021).
30 June 2021
Coronavirus Job Retention Scheme (CJRS or “furlough”) grant reduction – grant reduced from 80% up to £2,500 per employee to 70% up to £2,187.50 per employee (& employer to balance to at least 80% of wages).
Creditor winding up petition suspensions ends – creditors may not: (a) file to wind up on the basis of a statutory declaration filed between 1 March 2020 and 30 June 2021; nor (b) unless having reasonable grounds to believe that COVID-19 did not result in the company’s financial distress/debt issues, otherwise file before 30 June 2021 to wind up a company.
Wrongful trading protections for directors ends.
31 July 2021
Further CRJS grant reduction - 70% grant for employees claiming under CJRS ends & new version commences (grant of 60% up to £1,875 and employer to pay at least 80% of wages).
Other relevant deadlines to consider
Loan Interest holidays end: Depending on when bounceback or CBILs loans were taken, the interest holiday will end after 1 year (unless extended in the case of bounce back loans). Businesses will need an eye on their repayment terms: CLBILS loans were from 3 months – 3 years; CBILs for up to 6 originally (but extendable by lenders for up to 10); and bounce back loans for up to 6 years originally but extended to 10.
Future Fund Loan notes: Some high growth businesses may have issued Future fund convertible loan notes – after 3 years - if a ‘qualified financing’ (issue of equity, sale or IPO) has not occurred - these will become repayable at a premium or convert to equity – the rolled up 8% interest will also become due (or convert).
COVID-19 – Government support with no/uncertain current end date
Coronavirus Statutory Sick Pay rebate scheme – allows claim back of employee coronavirus related statutory sick pay.
KickStart scheme – 6 month funding of national minimum wage for new jobs for 16-24 yr olds on Universal Credit.
Various lock down and local restriction support grants, via local authorities - depending on COVID-19 measures in place.