As the third national lockdown begins, the Chancellor of the Exchequer has announced additional support for businesses affected by COVID-19:
One-Off Grant for Retail, Hospitality & Leisure BusinessesThere will be a one-off grant for businesses in the above sectors which are closed:
- £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
Local authorities will be provided with £594million to distribute in the form of discretionary grants to other affected businesses. This is in addition to a further £1.1billion provided to local authorities to distribute as Local Restriction Support Grants worth up to £3,000 per month.
Furlough Scheme & Government Backed Loans
We would like to remind clients that prior to Christmas the Government announced the extension of the Furlough Scheme to 30th April 2021 and the extension to the Government backed loan schemes to 30th March 2021.
We will continue to keep you informed of any updates from the Government in terms of their COVID-19 business support.