Three-tier system impact on businesses

With the national lockdown having ended on 2 December, the Government has reintroduced the three-tier system across England.

Compared to previously, the tiers are stricter this time around. Each alert level, (tier 1 = medium, tier 2 = high, tier 3 = very high) will determine which businesses can remain open, how they can function, and what financial support they may be eligible to receive.

The chart below summarises the restrictions currently in place, governing various industry sectors and the businesses operating within them; constraints that include evening curfews, limitations on selling and complete closure for many.

What financial support is available to my business, whilst the three-tier system is in place?

Concerned about the winter ahead of business-owners and employers, the Government announced further financial support for those worst affected during the second lockdown and subsequent three-tier system.

Furthering of existing measures included an extension to the Coronavirus Job Retention Scheme (CJRS) until the end of March 2021. The scheme will cover 80 per cent of a furloughed employee’s usual wages, capped at £2,500 a month.

Additional funding is also available, via local authorities, to businesses impacted by national and local restrictions; namely, the Local Restrictions Support Grants (LSRGs) and the Additional Restrictions Grant (ARG).

We discuss both of these support measures, in more detail, in recent blog posts. Read more about the local authority funding here, and about the extended CJRS here.

How can George Hay help?

We support hundreds of businesses, across Cambridgeshire, Hertfordshire, Bedfordshire and throughout the UK.

Where financial support is concerned, our advisers can help you to identify which support measures are open to you. We can also help you to gather together the appropriate supporting documentation, should an application be required.

If you’re an employer making use of the CJRS, our dedicated payroll team are perfectly placed to assist you with your queries and can help you to administer the scheme.

To speak to one of our friendly professionals, please contact us today, or fill in one of our online enquiry forms.

Leave a Reply