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Financial support schemes to be reactivated

Financial support schemes to be reactivated
Tue, 02 Mar 2021
Packages including MERA, Salary Support Scheme and Coronavirus Business Support Scheme will be made available.
The Treasury Minister Alf Cannan will give a statement during today s House of Keys sitting.
The Island will enter a 21-day circuit-break lockdown from 12:01 on Wednesday. It follows a number of unexplained COVID-19 cases identified on the Isle of Man.

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MERA and Salary Support Scheme to be increased

MERA and Salary Support Scheme to be increased
Tue, 02 Mar 2021
The Treasury Minister has confirmed financial package including MERA, Salary Support Scheme and Coronavirus Business Support Scheme will be made available to Island residents and business from tomorrow.
The Island will enter a 21-day circuit-break lockdown from 12:01 on Wednesday. It follows a number of unexplained COVID-19 cases identified on the Isle of Man.
During today s virtual sitting of the House of Keys - Alf Cannan confirmed an increase in support for the Salary Support Scheme and MERA:
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Coronavirus Business Support Scheme re-opened

Coronavirus Business Support Scheme re-opened
Fri, 15 Jan 2021
The Coronavirus Business Support Scheme (‘CBSS’) has been reopened to a broad range of sectors and will provide a fixed payment of £1,500 for eligible applicants.
The Scheme is open to qualifying businesses and self-employed persons who can evidence that they have eligible ongoing business overheads of at least £500 per month. It runs alongside the existing MERA and Salary Support Scheme that have recently been extended by the Isle of Man Treasury.
The Coronavirus Business Support Scheme open yesterday and will remain open for applications until 31st January 2021.
Applicants who received support during previous rounds of the CBSS will be fast-tracked. New applicants, or those that previously failed eligibility checks will be subject to full checks in respect of their Tax and VAT status as per previous rounds. ....

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Amendments made to Coronavirus Business Support Scheme criteria

Amendments made to Coronavirus Business Support Scheme criteria
Fri, 15 Jan 2021
Changes have been made to the Circuit Break Lockdown Coronavirus Business Support Scheme to provide support to a greater number of Island businesses and self-employed persons.
The revised scheme, based on Scheme introduced in March 2020, was launched yesterday and provides eligible businesses and self-employed persons with a £1,500 grant towards business overheads where they have been adversely affected by the circuit break lockdown measures.
The threshold requirement for eligible business overheads has been reduced from £500pcm to £250pcm, and the definition of eligible business overheads has been clarified and broadened.
Treasury Minister Alfred Cannan MHK said:‘We are pleased that for the most part, the new scheme has been received positively and that we have already been able to process applications and make the first payments within 24 hours of launching the scheme. ....

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Salary Support Scheme now available

Salary Support Scheme now available
Government is reopening its Salary Support Scheme in light of the Island s second lockdown.
It will be open to all businesses that were able to claim during last year’s period of lockdown and is designed to ensure businesses impacted by the circuit break action can continue to pay their employees.
Those which qualify for the scheme will get financial assistance of up to £280, with the method of claiming remaining the same.
The scheme is now open and will initially end on 31 January 2021.
Updated guidance on the Salary Support Scheme will be available at https://covid19.gov.im/businesses/funding-support/salary-support-scheme/ ....

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