COVID-19 Financial Support Update | No. 14

This COVID-19 Financial Support Update | No. 14 is a unique single reference source of the financial supports available to businesses in Northern Ireland and Ireland.

We are all working and living in unprecedented times. The devastating Coronavirus pandemic presents rapidly changing and challenging circumstances for the business world. FPM aim to keep in touch with clients by providing continual updates of the support measures available to businesses operating across Northern Ireland & Ireland. The COVID-19 Financial Support Update incorporates further clarity, as of the 18th January, of schemes on offer to businesses operating on the island of Ireland, North and South.

We have been very encouraged by the positive feedback and recognition that our Coronavirus updates have received. It is acknowledged that this is an extremely fluid and changing environment and as a result we will continue to provide further Coronavirus Updates in light of this.

Changes since our last update include:

Northern Ireland | The Government have released their third iteration of the Coronavirus Job Retention Scheme, which brought with it several changes to eligibility criteria and practical application. There have also been new funding schemes introduced for directors and for individuals who are newly self-employed, as well as additional supports for businesses impacted by the localised restriction measures introduced by the NI Executive.

Ireland | There have been further changes to the Employment Wage Subsidy Scheme from 1 January 2021. In October 2020, the Government introduced the Covid Restrictions Support Scheme to help many businesses forced to close.

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