Businesses affected by local lockdowns in England to receive new financial grants
Some great news for local businesses! In September 2020, Ministers have announced that there will be new grants available for businesses affected by lockdown in England.
Businesses that have been required to shut because of localised lockdowns will now be able to claim up to £1,500 per property every three weeks.
Why has this small business grant been introduced?
Due to the changing nature of the COVID-19 pandemic, a number of local lockdowns were implemented across England because of a rising amount of coronavirus cases in certain areas. This means businesses in affected areas had to close their doors again, having already seen an impact on their business throughout the first national lockdown.
This scheme will therefore provide a safety net to project jobs where businesses have been required to close because of local interventions. Chief Secretary to the Treasury Steve Barclay said, “As local economies eventually and carefully re-open after local interventions, our Plan for Jobs is there waiting to help businesses get back on their feet, protect jobs and thrive in the future.”
How do businesses affected by the local lockdowns claim this grant?
To be eligible for this new Government grant, your business must have been required to close due to local COVID-19 restrictions. These payments will be triggered when a national decision occurs to close businesses in an area with a high number of coronavirus cases. Each payment will be made for a 3 week lockdown period, and each new 3 week lockdown period triggers an additional payment.
The largest businesses will receive £1,500 every three weeks they are required to close, whereas smaller businesses will receive £1,000, as outlined below:
- Small businesses who occupy premises with a rateable value less than £51,000 or occupy a property or part of a property subject to an annual rent or mortgage payment of less than £51,000, will receive £1,000 every three weeks.
- Larger businesses who occupy a premises with a rateable value of exactly £51,000 or above or occupy a property or part of a property subject to an annual rent or mortgage payment of exactly £51,000 or above, will receive £1,500 every three weeks.
- Any businesses still closed at a national level (e.g. nightclubs), will not be eligible for this new scheme.
We hope this brings some good news to businesses that have been impacted by local lockdowns in England, and as always we hope everyone is staying safe! If you have any questions about what grants you and your business may be eligible for during these uncertain times, please feel free to contact us.
This Post Has 0 Comments