The Chancellor has just announced that the government has put aside £4.6 billion in lockdown grants to help support those businesses most severely affected by the new lockdown measures.
According to the press release one off 'top up' grants worth up to £9,000 per property will be available to the retail, hospitality and leisure businesses to help them through to the Spring.
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
In addition, a £594 million discretionary fund will also be available to support other impacted businesses not eligible for the grants, that might be affected by the restrictions. Businesses should apply to their local authorities to access the money.
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