Following the announcement of a third national lockdown by the government on 4th January, the Chancellor has announced a new range of financial support measures to help businesses through the tighter restrictions into the Spring.
Top-up grants
An estimated 600,000 UK businesses in the retail, hospitality and leisure sectors will be supported through one-off top-up grants worth up to £9,000.
Businesses will receive the one-off top-up grants 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
Discretionary fund
A further £594m discretionary fund will also be made available to local councils and devolved nations to support businesses which are not eligible for the new grants, but are affected by the tighter restrictions.
Full details on these new measures will follow, and we will keep you updated with the latest information as it is announced.
If you need any further details on the current support available for businesses, please do not hesitate to get in touch. You can also visit our COVID-19 support hub which summarises the support available.
