We’re pleased to announce that hair and beauty salons will be eligible to receive a one-off cash grant of £18,000, following on from Chancellor Rishi Sunak’s Budget announcement today.

It comes amid a host of initiatives aimed at helping businesses through the pandemic, including an extension to the furlough scheme to September 2021, business rates relief and a new UK-wide Recovery Loan Scheme.

Details of how to apply will be released next week.

The NHBF who has been lobbying for more support for the hair and beauty sector over the past year welcomed the news.

“We were worried that the most vulnerable in our sector would find it hard to survive to re-open, but both the Restart Grant and further funding for the self-employed have thrown a lifeline to struggling businesses and professionals,” said Richard Lambert, Chief Executive, NHBF.

So far, the reduction in VAT to 5% that NHBF has been lobbying for, alongside BABTAC, British Beauty Council, and UK Spa Association, has not been extended to the hair and beauty sector, however we support their endeavours to see this happen.

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Support for salon owners

– A cash grant to re-open on April 12, of between £6,000 and £18,000 depending on the salon’s rateable value.

– Furlough being extended to September 2021 across the UK – allowing salons to continue to claim up to 80% of staff wages, if they’re unable to work.

– A UK-wide Recovery Loan Scheme to make available loans between £25,001 and £10 million to help businesses of all sizes through the next stage of recovery.

– Small and medium-sized employers in the UK will continue to be able to reclaim up to two weeks of eligible Statutory Sick Pay (SSP) costs per employee from the Government.

– In England, business rates relief of 100% until the end of June and then a discount of two-thirds until the end of the year.

– Corporation Tax will remain at 19% until 2023, staying at this level for those with profits of £50,000 or less. It will then be tapered, with only those generating £250,000 or more in profit being charged 25%.

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Support for self-employed hair & beauty professionals

– The UK-wide Self Employment Income Support scheme is being extended to September 2021, and everyone who filed a tax return in 2019-20 is now able to claim for the first time.

– Those whose turnover has fallen by over 30% can claim 80% back and those who have lost less than 30% of turnover can claim 30%.

– Local authorities in England will also be given an additional £425m to support businesses who have fallen through the gaps in support and may not be eligible for restart grants.