Chancellor of the Exchequer Rishi Sunak has confirmed that businesses will be able to access one-off “top-up” grants worth up to £9,000 per property, to support businesses through to the Spring. Money has also been made available to Local Authorities and Devolved Governments to deliver business support across 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
Grants are awarded on a per-property basis. Businesses should apply to their Local Authorities to access these grants.
Coronavirus Job Retention Scheme (UK-wide)
The Coronavirus Job Retention Scheme has been extended until 30 April 2021. You can claim 80% of an employee’s usual salary for hours not worked, up to a maximum of £2,500 per month.
Local Restriction Support Grants (for closed businesses) (England)
Funding of up to £1,500 (based on rateable value) for each 14-day period of closure.
Strategic Framework Business Fund (Scotland)
Grants of up to £3,000 (based on rateable value) to be paid every 4 weeks in arrears as long as restrictions last.
ERF Restrictions Business Fund (Wales)
Hospitality and non-essential retail businesses with a rateable value of between £12,001 and £150,000 may be eligible for a £5,000 payment if impacted by restrictions.
Coronavirus: Localised Restrictions Support Scheme (Northern Ireland)
Payments of up to £1,600 (based on Net Annual Valuation) for each week that restrictions apply for.