Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown. UK businesses in the retail, hospitality and leisure sectors are to be given one-off grants worth up to £9,000.
The payments are expected to support 600,000 business properties across the UK. A further £594 million will be made available to councils and delegated nations to support businesses not covered by the new grants.
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
Chancellor Rishi Sunak said:
“The new strain of the virus presents us all with a huge challenge – and whilst the vaccine is being rolled out, we have needed to tighten restrictions further. Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the Spring. This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen”
Any business which is legally required to close, and which cannot operate effectively remotely, is eligible for a grant.
How can Asmat & Co help?
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