New lockdown grants to support businesses and protect jobs
8th January 2021On 5th January 2021 the Chancellor announced new one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through the new lockdown.
The one-off top-ups will be granted to closed businesses 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
A further £594 million is also being made available for Local Authorities to support other businesses not eligible for the grants, that might be affected by the restrictions. Further information will be available from Local Authorities shortly.
These measures are in addition to the existing various business lending schemes, and the extension of the Self Employment Income Support Scheme.
Disclaimer - All information in this post was correct at time of writing.
