Following the announcement that we are to enter a national lockdown; I wish to reassure you of the steps we are taking to support businesses and livelihoods while we continue in our collective efforts to save lives and protect the NHS. My team and I stand ready to help those in need of assistance, so do be in touch here.
Retail, hospitality and leisure business premises forced to close can claim a one-off grant of up to £9,000 in addition to the existing monthly closed grants of up to £3,000 per month that businesses continue to be eligible for. The one-off additional grant each business premises will receive depends on their 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
Local Authorities will receive the funding for these one-off grants next week (as of January 5th), and businesses can receive multiple grants as they are eligible on a per premises basis.
These grants are expected to benefit over 600,000 business properties, worth £4 billion across the UK.
Local Authorities will also be given an additional £594 million of discretionary funding to support their local businesses who are not eligible for the above grants.
This £594 million will be allocated in the same way as, the £1.1 billion discretionary funding which Local Authorities in England have already received to support their local economies and help businesses impacted.