3rd National Lock Down, £4.6bn Business support
Businesses in the retail, hospitality, and leisure sectors are to receive a one-off grant worth up to £9,000, the Chancellor has said. The move follows the Prime Minister’s announcement on 04 Jan 2021, that these businesses will be closed until at least February half-term to help control the virus. Grant is expected to benefit over 600,000 business properties, worth £4.6bn in total across all nations of the UK.
The one-off top-ups will be granted to closed businesses based on rateable values.
. £4,000 available for businesses with a rateable value of £15,000
. £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.
Additional Grant £594m available for local Councils
A further £594m is also being made available for Local Authorities to support businesses not eligible for the grant, with businesses encouraged to apply to their Local Authorities.
Others Government Grants & Reliefs for Business Announced Earlier – Likely to be extended after the review once lockdown is relaxed to revive demand and supply.
. Furlough Pay extended till April 2021
. 5% VAT reduced rate for Business in Hospitality, Accommodation & Leisure till March 2021
. Business Rate relief till April 2021
. 100% Government Back Loan Extended till March 2021
Under Restriction Business Operations – Retail, Hospitality, Leisure & Sports
Essential shops and garden centers can remain open. Entertainment venues and animal attractions such as zoos must close, but the outdoor areas of venues such as heritage homes and botanical gardens can remain open, to be used for exercise.
Indoor and outdoor sports facilities including sports courts, gyms, golf courses, swimming pools, and riding arenas must also close.