On 5th January 2021, the Chancellor Rishi Sunak announced a further £4.6 billion in business support grants for businesses forced to close due to the latest lockdown.
This follows the Prime Minister’s recent announcement of a third national lockdown, that these business will be closed until at least February half-term in order to help control the virus, and, together with the wide range of existing support, provides them with certainty through the Spring period.
The cash is provided on a per-property basis to support businesses through the latest restrictions, and is expected to benefit over 600,000 business properties, worth £4 billion in total across all nations of the UK.
The one-off grants are available as follows:
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
The grants are available for businesses legally required to close.
The business support grants will be administered through local authorities, which (for our client base) is predominantly DMBC. Further information, when available, will be available from here.
6th January 2021