At the end of September, many of the government interventions to support business owners crossed the finishing line.

The CJRS and SEISS schemes closed 30 September and the reduction in VAT to 5% for the hospitality sector restarted its return to 20% – from 1 October the rate increases to 12.5% until 31 March 2022, when presumably, the rate will return to 20%.

For businesses that have been close to shut-down for many months, these withdrawals in support may be terminal.

There will be challenges and we should expect the best outcome but plan for the worst.

Can we start to relax?

It’s debateable. There are solid reasons to expect further challenges ahead. Hopefully, this will not result in major interventions on the part of government and the reinstatement of lockdown.

There is comfort in facing facts.

If you have not exhorted your clients to create realistic business plans, now would be a good time to do this.

Source: New feed