Firstly, I take this opportunity to wish you a Happy New Year!

I think we all expected Boris’ announcement yesterday, putting us into lockdown 3.0 until at least mid-February. I don’t know about you but this wasn’t the late Christmas present I was hoping for.

As seems to be the way these days Rishi Sunak follows closely behind with the announcement of an additional support package. If you follow the link below this gives a summary of what he announced today and I also summarise the key points below.

https://www.gov.uk/government/news/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs

As you can see an additional £4.6 billion has been announced which will in summary provide the following support:

  • one-off top up grants for retail, hospitality and leisure businesses worth up to £9,000 per property to help businesses through to the Spring.
  • £594 million discretionary fund also made available to support other impacted businesses.
  • comes in addition to £1.1 billion further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme.

Grants

The furlough scheme being extended to the end of April is nothing new so really the main additional support is the announcement of the top up grant. The one off grants to closed businesses will be 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

As this was only announced this morning it doesn’t appear you can apply yet, I will of course keep you updated and will let you know once you can.

Finally, I take this opportunity to reiterate that we are here to support you. If you need to chat through any concerns the new lockdown poses to your business please do not hesitate to get in touch.

Tel: 01392 360008