On the 5th January 2021, the Chancellor announced the availability of one-off top-up grants for retail, hospitality and leisure businesses, which will be worth up to £9,000 per property.
This further support follows the Prime Minister’s announcement on 4 January 2021 that businesses in England in these sectors must close until at least February half term to help control the spread of COVID-19.
The one-off grant will be provided to firms on a per property basis, with £4,000 going to those with a rateable value below £15,000, £6,000 to those with a rateable value between £15,000 and £51,000 and £9,000 above this level. Any businesses interested in the grants should apply to their local authority.
The Chancellor also announced the availability of a £594 million discretionary fund to support other businesses that have been affected by the new lockdown rules, but that are not eligible for the top up grants. This extra funding comes in addition to the £1.1 billion further discretionary grant funding for local authorities, local restriction support grants worth up to £3,000 a month and an extension of the furlough scheme until the end of April 2021.
For further information or advice on how COVID-19 may be affecting your business please get in touch with a member of the Baines Wilson LLP, on 01524 548494 or 01228 552600.