New lockdown, new grants!
Here we are in a new year, with a new Lockdown! Following the PM’s address last night, business leaders were quick to call for enhancements to the grants and support on offer from HM Treasury. An announcement from the Chancellor this morning goes some way to answer those calls.
The details of the lockdown announcement, including a list of those businesses that can remain open, can be found here.
Who can benefit?
1. One-off grants for retail, hospitality and leisure businesses in England, linked to the rateable value of the properties they occupy, 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
You can check whether your business is likely to qualify for these grants here.
2. £594 million to be made available to local authorities and the Devolved Administrations to support English businesses that aren’t eligible for the above grants.
As with the previous versions of these, it will be down to your Local Authority to set up a local scheme and administer the process, so do keep an eye on their website over the next few days. It’s unlikely there’ll be anything on there just yet.
You can find your local authority here.
3. The Devolved Administration will operate separately, and have been granted the following amounts:
- The Scottish Government will receive £375 million
- The Welsh Government will receive £227 million
- The Northern Ireland Executive will receive £127 million
More details will follow in due course, and we’ll keep you posted as soon as we receive them. As ever, please do get in touch if you have any questions.
We send regular updates that keep clients aware of changes and suggestions on a wide range of subjects; if you’d like to receive those too, just add your details below and we’ll do the rest! We promise not to bombard you and you can unsubscribe at any time.