Need to know: the financial support packages for England

by | Nov 5, 2020 | News, Self Employment, SELF/STYLED Business

Confused by the recent spate of updates and what they mean for your business and finances? Here are all of the support packages available to the hair industry, and how to access them…

Financial support packages in England – a business owner consulting figures at a laptop

In this unsettled time, with circumstances changing so quickly, it can be difficult to wrap your head around everything. With the help of the NHBF, here is a concise list of the coronavirus financial support packages available to you and your business in the UK.

While the NHBF has welcomed the latest support packages from the government, it is continuing to lobby for a reduction in VAT to 5 per cent to mirror hospitality, further business rates relief, an extension to eviction protections and bounce-back loan repayment plans structured like student loans.

“As we enter a second national lockdown in England our immediate concern is that local councils start distributing the grant funding they have been given by the government to support businesses affected by the lockdowns as soon as possible,” says NHBF chief executive Richard Lambert.

“Hair and beauty businesses are hugely anxious about how they will meet their financial commitments if they can’t work. Most are likely to have no safety buffer of surplus or savings to fall back on second time around. We are therefore continuing to push for further support to help businesses survive throughout this difficult period.”

The latest coronavirus financial support packages available to businesses are as follows:

 

Job Retention Scheme: Furlough 

The furlough scheme has been extended. It had been due to finish at the end of October 2021 – it will now end on 31 March 2021, as confirmed by Chancellor Rishi Sunak on 5 November.

You can bring furloughed employees back to work on a part-time basis or furlough them full-time. Employers must pay National Insurance and employer pension contributions. Employees will receive 80 per cent of their salary for hours not worked, up to a maximum of £2,500.

 

Job Support Scheme

PLEASE NOTE: The Job Support Scheme, which was scheduled to come in on Sunday 1 November, has been postponed until the furlough scheme ends. The furlough scheme has been extended – see above.

If businesses are legally required to close, the government will cover the cost of two thirds of employees’ salaries where they can’t work for a week or more. Employers must cover National Insurance and pension contributions where applicable.

If businesses are still open but adversely affected by coronavirus, the government is making it easier to keep employees on:

  • Employees must work a minimum of 20 per cent of their hours. The employer will pay the wages for these hours.
  • For every hour not worked, the employee will be paid two-thirds of their usual salary. The employer will contribute five per cent to a cap of £125 a month, with the rest paid by the government to a cap of £1,541.75 a month.

Find out more on the government website.

 

Job Retention Bonus 

The Job Retention Bonus is a £1,000 one-off taxable payment to the employer for each eligible employee that you furloughed and kept continuously employed until 31 January 2021.

You’ll be able to claim the bonus between 15 February 2021 and 31 March 2021. You do not have to pay this money to your employee. Find out more on the government website.

 

Self-employed Income Support Scheme

The Self-Employed Income Support Scheme has been extended to cover 80 per cent of profits for the period November – January up to £7,500.

The government is offering two grants, each available for three-month periods covering November 2020 to January 2021 and February 2021 to April 2021. Grants will be paid in two lump sum instalments, each covering a three-month period.

The first grant will cover a three-month period from 1 November 2020 until 31 January 2021. The government will provide a taxable grant, covering 55 per cent of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £5,160 in total.

The grants will be increased from the previously announced level of 40 per cent of trading profits to 80 per cent, returning to 40 per cent from 1 February 2021.

The second grant will cover a three-month period from 1 February 2021 until 30 April 2021. The Government will review the level of the second grant and set this in due course.  The grants are taxable income and also subject to National Insurance contributions. Find out more on the government website. 

Business Grants 

Salons or barbershops forced to close in England due to local or national restrictions will be eligible for the following:

  • For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks.
  • For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks.
  • For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

Visit your local authority’s website to find out how to apply. Find your local authority on the government website.  £1.1bn is also being distributed to local authorities so they can make one-off payments to help support businesses.

 

Loan schemes 

  • The Business Interruption Loan Scheme provides loans of up to £5m, with no interest due for 12 months. The government guarantees 80 per cent of the finance to the lender and pays interest and any fees for the first 12 months. Open for applications until 31 January 2021.
  • The Bounce Back Loan helps small and medium-sized businesses to borrow between £2,000 and up to 25 per cent of their turnover. The maximum loan available is £50,000. The government guarantees 100 per cent of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5 per cent a year. Open for applications until 31 January 2021.

 

Claim back Statutory Sick Pay 

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay paid to current or former employees who are off sick for coronavirus-related reasons. Find out more on the government website.

Subject to restrictions being lifted, businesses will be able to re-open on Thursday 3 December.

For more information on coronavirus financial support packages and FAQs, you can also visit www.nhbf.co.uk/coronavirus.

Sign up for FREE access to the Salon Smart HUB

Creative HEAD on Instagram

Did somebody say disco? All will be unveiled on Monday🤫 🪩 #hair #hairdressing #hairdresser #editorialshoot #covershoot #teaser #comingsoon #disco #discohair
Did somebody say disco? All will be unveiled on Monday🤫 🪩   #hair #hairdressing #hairdresser #editorialshoot #covershoot #teaser #comingsoon #disco #discohair
14 hours ago
View on Instagram |
1/9
'50s details with a 2023 twist 🔀Think modern flapper meets badass Betty Boop from @titan_barber 🤩 Sharp silhouette, clean lines and a fresh finish. It is PERFECTION.#hair #hairdressing #hairdresser #barbering #barber #shorthair #50shair #fiftieshair #skinfade #taperfade #shorthair #shorthairexpert #clipperwork #wetlookhair
'50s details with a 2023 twist 🔀 Think modern flapper meets badass Betty Boop from @titan_barber 🤩 Sharp silhouette, clean lines and a fresh finish. It is PERFECTION. #hair #hairdressing #hairdresser #barbering #barber #shorthair #50shair #fiftieshair #skinfade #taperfade #shorthair #shorthairexpert #clipperwork #wetlookhair
16 hours ago
View on Instagram |
2/9
Introducing the hair trend of the season: the #WellaColourBlocking collection 😍From high contrast #Blondes to tonal #Brunettes, perfect pastels to peek-a-boo pops, colour is @wellaprofessionaluki's art  and hair is your canvas. We would love to see your creations! #AD #WellaProfessionals #CreativeHEAD #KolestonPerfect #WellaFamily #ColourTechnique #Haircolourist
Introducing the hair trend of the season: the #WellaColourBlocking collection 😍 From high contrast #Blondes to tonal #Brunettes, perfect pastels to peek-a-boo pops, colour is @wellaprofessionaluki's art and hair is your canvas. We would love to see your creations! #AD #WellaProfessionals #CreativeHEAD #KolestonPerfect #WellaFamily #ColourTechnique #Haircolourist
22 hours ago
View on Instagram |
3/9
In the moment 📸A closer look at the creative process from @laurenbellhair and @byron_london, who created this epic look for @biminibabes for @erdem.#hair #hairdressing #hairdresser #bts #behindthescenes #hairbysammcknight #biminibabes #editorialstylist #editorialhair #straighthair #sleekhair #glamsquad
In the moment 📸A closer look at the creative process from @laurenbellhair and @byron_london, who created this epic look for @biminibabes for @erdem.#hair #hairdressing #hairdresser #bts #behindthescenes #hairbysammcknight #biminibabes #editorialstylist #editorialhair #straighthair #sleekhair #glamsquad
In the moment 📸A closer look at the creative process from @laurenbellhair and @byron_london, who created this epic look for @biminibabes for @erdem.#hair #hairdressing #hairdresser #bts #behindthescenes #hairbysammcknight #biminibabes #editorialstylist #editorialhair #straighthair #sleekhair #glamsquad
In the moment 📸A closer look at the creative process from @laurenbellhair and @byron_london, who created this epic look for @biminibabes for @erdem.#hair #hairdressing #hairdresser #bts #behindthescenes #hairbysammcknight #biminibabes #editorialstylist #editorialhair #straighthair #sleekhair #glamsquad
In the moment 📸 A closer look at the creative process from @laurenbellhair and @byron_london, who created this epic look for @biminibabes for @erdem. #hair #hairdressing #hairdresser #bts #behindthescenes #hairbysammcknight #biminibabes #editorialstylist #editorialhair #straighthair #sleekhair #glamsquad
1 day ago
View on Instagram |
4/9
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A session stalwart with an exceptional creative vision, this season of London Fashion Week @nickirwinhair conceptualised a whole host of hair looks for shows including KWK by Kay Kwok and NOKI. Armed with Session Label styling heroes from @schwarzkopfprouk and supported by an awesome hair team, including members of @skpyat and @skp_collective, the two shows were a visual feast for the eyes. Inspiring, forward-thinking and with truly artistic outcomes, join Nick in his backstage takeover from London Fashion Week. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at #LFW. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
2 days ago
View on Instagram |
5/9
A frequent collaborator for the NOKI runway shows, this season @nickirwinhair turned the typical hairdressing process on its head, delivering a deconstructed salon experience that hair pros across the globe can relate to. From the layering of foils to half-finished cuts, styling clips and dripping colour, the variety of looks to hit the runway truly took the art of hairdressing to new heights. As well as Nick’s core team, members of the @schwarzkopfprouk 2023 @skpyat team were on hand to get the models runway ready. An exciting experience which immersed them in the world of Fashion Week, we have no doubt that memories of the show will stay with them for a long time to come!  Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at London Fashion Week. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
A frequent collaborator for the NOKI runway shows, this season @nickirwinhair turned the typical hairdressing process on its head, delivering a deconstructed salon experience that hair pros across the globe can relate to.   From the layering of foils to half-finished cuts, styling clips and dripping colour, the variety of looks to hit the runway truly took the art of hairdressing to new heights.   As well as Nick’s core team, members of the @schwarzkopfprouk 2023 @skpyat team were on hand to get the models runway ready. An exciting experience which immersed them in the world of Fashion Week, we have no doubt that memories of the show will stay with them for a long time to come!   Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at London Fashion Week.   #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #Noki #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
2 days ago
View on Instagram |
6/9
Come behind the scenes with @nickirwinhair hair at KWK by Kay Kwok S/S24 👀Transporting us to another planet, Nick used the otherworldly clothing as inspiration for the concept of hair barcoding. A futuristic styling detail which was perfect for the group of cool kids which hit the runway, a small gel strip was added in just one area of the hair. The gel ‘barcode’ was then dialled up or down to suit the model’s individual style. If you’re looking to jump on the trend, reach for The Jelly, The Coat and The Strong from Session Label by @schwarzkopfprouk to bring the look to life.Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at London Fashion Week.#AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
Come behind the scenes with @nickirwinhair hair at KWK by Kay Kwok S/S24 👀 Transporting us to another planet, Nick used the otherworldly clothing as inspiration for the concept of hair barcoding. A futuristic styling detail which was perfect for the group of cool kids which hit the runway, a small gel strip was added in just one area of the hair. The gel ‘barcode’ was then dialled up or down to suit the model’s individual style. If you’re looking to jump on the trend, reach for The Jelly, The Coat and The Strong from Session Label by @schwarzkopfprouk to bring the look to life. Ready for more backstage action? Head to our Stories for further glimpses of Nick Irwin’s work at London Fashion Week. #AD #SchwarkopfProfessional #SessionLabel #SessionStylist #LFW #LondonFashionWeek #KayKwok #backstage #bts #behindthescenes #sessionhair #runwayhair #fashionweek
2 days ago
View on Instagram |
7/9
Think you know ‘70s hair? Think again.  Join us on the dance floor on 2 October🪩 #hair #hairdressing #hairdresser #editorialshoot #covershoot #teaser #comingsoon #disco #discohair
Think you know ‘70s hair? Think again. Join us on the dance floor on 2 October🪩   #hair #hairdressing #hairdresser #editorialshoot #covershoot #teaser #comingsoon #disco #discohair
2 days ago
View on Instagram |
8/9
How can YOU create an inclusive workspace?  Fresh from the @nhbfsocial’s latest blog post, find out the do’s and don'ts for employers when it comes to best supporting your team and embracing neurodiversity.  Packed with top tips and need-to-know advice, discover how to adapt to staff needs while encouraging a diverse pool of talent that makes everyone feel included and safe to share their perspectives ❤️   #AD #neuodiversity #salonteam #salonowner #salonmanager #nhbf #inclusiveworkplace #inclusivity #nhbf #barbershop #barbershopowner
How can YOU create an inclusive workspace?  Fresh from the @nhbfsocial’s latest blog post, find out the do’s and don'ts for employers when it comes to best supporting your team and embracing neurodiversity.  Packed with top tips and need-to-know advice, discover how to adapt to staff needs while encouraging a diverse pool of talent that makes everyone feel included and safe to share their perspectives ❤️   #AD #neuodiversity #salonteam #salonowner #salonmanager #nhbf #inclusiveworkplace #inclusivity #nhbf #barbershop #barbershopowner
How can YOU create an inclusive workspace?  Fresh from the @nhbfsocial’s latest blog post, find out the do’s and don'ts for employers when it comes to best supporting your team and embracing neurodiversity.  Packed with top tips and need-to-know advice, discover how to adapt to staff needs while encouraging a diverse pool of talent that makes everyone feel included and safe to share their perspectives ❤️   #AD #neuodiversity #salonteam #salonowner #salonmanager #nhbf #inclusiveworkplace #inclusivity #nhbf #barbershop #barbershopowner
How can YOU create an inclusive workspace?  Fresh from the @nhbfsocial’s latest blog post, find out the do’s and don'ts for employers when it comes to best supporting your team and embracing neurodiversity.  Packed with top tips and need-to-know advice, discover how to adapt to staff needs while encouraging a diverse pool of talent that makes everyone feel included and safe to share their perspectives ❤️   #AD #neuodiversity #salonteam #salonowner #salonmanager #nhbf #inclusiveworkplace #inclusivity #nhbf #barbershop #barbershopowner
How can YOU create an inclusive workspace?  Fresh from the @nhbfsocial’s latest blog post, find out the do’s and don'ts for employers when it comes to best supporting your team and embracing neurodiversity.  Packed with top tips and need-to-know advice, discover how to adapt to staff needs while encouraging a diverse pool of talent that makes everyone feel included and safe to share their perspectives ❤️   #AD #neuodiversity #salonteam #salonowner #salonmanager #nhbf #inclusiveworkplace #inclusivity #nhbf #barbershop #barbershopowner
How can YOU create an inclusive workspace? Fresh from the @nhbfsocial’s latest blog post, find out the do’s and don'ts for employers when it comes to best supporting your team and embracing neurodiversity. Packed with top tips and need-to-know advice, discover how to adapt to staff needs while encouraging a diverse pool of talent that makes everyone feel included and safe to share their perspectives ❤️ #AD #neuodiversity #salonteam #salonowner #salonmanager #nhbf #inclusiveworkplace #inclusivity #nhbf #barbershop #barbershopowner
2 days ago
View on Instagram |
9/9
Loading...