£4.6 billion in new lockdown grants
Following the Prime Minister’s announcement that we will be entering a third national lockdown, the chancellor, Rishi Sunak, has announced further support to businesses that will be closed due to these restrictions.
The new grant will be a one-off grant for retail, hospitality and leisure businesses and will be paid in addition to the existing grants for closed businesses.
For closed businesses with a rateable value of:
- £15,000 or under they will receive a one-off grant of £4,000
- between £15,000 and £51,000, they will receive a one-off grant of £6,000
- over £51,000 they will receive a one-off grant of £9,000.
A further £594 million is also being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions.
Businesses should apply to their Local Authorities.
Author: Alan Taylor FCCA
A former pupil at Ripley St Thomas C of E High School in Lancaster, Alan joined Scott & Wilkinson directly from school in 1994 and qualified as an Accountant in 2001. Alan is the Partner with responsibility for the day-to-day...
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