In November the Government set out it’s economic package to support businesses over the Winter, including monthly grants for closed businesses worth up to £3000 per month, extending the furlough scheme until April and providing SEISS grants to support the self-employed until April.
However, given the further national restrictions announced by the Prime Minister yesterday to prevent further spread of the virus, the Government has announced it will provide additional support to the most affected businesses, worth £4.6billion across the UK.
Retail, hospitality and leisure businesses forced to close can claim a one off grant of up to £9,000, depending on rateable value.
-Businesses with a rateable value of £51,000 or above -£9,000
-Businesses with a rateable value between £15,000 and £51,000 - £6,000
-Businesses with a rateable value of £15,000 or below - £4,000
This one-off grant is in addition to the existing monthly closed grants of up to £3,000 per month that businesses continue to be eligible for. These grants are worth over £1billion in total per month. It is expected that that over 600,000 retail, hospitality and leisure businesses premises in England will benefit from these grants.
Businesses can receive multiple grants, as they are on a per premises basis.
Local authorities will receive the funding for these one-off grants next week, and the Government is encouraging them to make payments as soon as possible.
Local authorities in England will also be given an additional £500million of discretionary funding to support local businesses.
This builds on, and will be allocated the same way as, the £1.1billion discretionary funding which local authorities in England have already received to support their local economies and help businesses impacted.
For more information please see: https://www.gov.uk/.../46-billion-in-new-lockdown-grants...
