It was announced on Tuesday, 5th January that retail, hospitality and leisure businesses will be entitled to extra coronavirus support. What details are available?
Although many businesses deemed “non-essential” were already closed due to being in Tier 3 or 4 areas, the Prime Minister’s announcement last night that the whole of England was being placed into a full stay-at-home lockdown (including closing schools to almost all children) still came as a huge blow. The new lockdown is set to last until at least the February half-term. Perhaps unsurprisingly, the announcement was quickly followed by an announcement of further support for affected businesses, namely those operating in retail, hospitality and leisure. Scotland had already announced similar national restrictions.
These businesses will be eligible to apply for a new one-off grant. The amount will be determined by the business property’s rateable value 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
Business support of this type is a devolved matter, so it is likely that applications for the new grants will need to be made to local councils – as was the case with the funding made available in November 2020. Businesses should therefore check with their local authority over the coming days as more information is made available.