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COVID-19 Advice for business: New Lockdown grant January 2021 - news article image

COVID-19 Advice for business: New Lockdown grant January 2021

6 Jan 2021

1 minute read

The chancellor has announced that businesses in the retail, hospitality and leisure sectors are to receive a one-off top up grant, as result of Lockdown 3. 

The one-off grants will be linked to business rates and will consist of payments of:

  • £4,000 for businesses with a value of £15,000 or less
  • £6,000 for businesses with a value between £15,000 and £51,000 
  • £9,000 for businesses with a value of more than £51,000 

The Chancellor has said that these grants will give businesses the financial support and help them survive through spring. As businesses will be closed until at least February half term. The chancellor has also announced further grants to help businesses through the latest restrictions: 

  • Discretionary grant funding for Local Authorities up to £1.1 billion
  • £594 million discretionary fund made available to support impacted businesses
  • Local Restriction Support Grants worth up to £3,000 a month 

The Devolved Governments will also receive grants to support businesses, which will contribute to funding already provided by the UK Government. 

  • The Scottish Government will receive £375 million 
  • The Welsh Government will receive £227 million
  • The Northern Ireland Executive will receive £127 million

 For more information on the available grants click here.

COVID-19 Advice for business: New Lockdown grant January 2021 - news article image

Author:

Samantha Daniels

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