Business support for the latest lockdown

Responding to the latest lockdown announcements in the UK, Chancellor Rishi Sunak has announced a new package of support for businesses worth around £4.6bn.

11 January 2021

Money Coins In A Pile

This includes:

  • one-off top up grant for retail, hospitality and leisure businesses worth up to £9,000 our property to help businesses through to the Spring.
  • £594 million discretionary fund also made available to support other impacted businesses.
  • These are in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme.

The cash is provided on a per-property basis to support businesses through the latest restrictions, and is expected to benefit over 600,000 business properties across all nations of the UK.

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

Any business which is legally required to close, and which cannot operate effectively remotely, is eligible for a grant.

Full details of financial support available for businesses can be found here