Here’s a quick summary of what support is being offered to retail, hospitality and leisure businesses:
The Chancellor has today announced that retail, hospitality and leisure businesses will receive a fresh round of grants to help them cope with the new lockdown measures. If a business is forced to close as a result of the restrictions, they will be entitled to:
- The grant will be based on the rateable value of the property on the first full day of restrictions.
- If your business has a property with a rateable value of £15,000 or less, you may be eligible for a cash grant of £1,334 for each 28-day qualifying restrictions period.
- If your business has a property with a rateable value over £15,000 and less than £51,000, you may be eligible for a cash grant of £2,000 for each 28-day qualifying restrictions period.
- If your business has a property with a rateable value of £51,000 or above, you may be eligible for a cash grant of £3,000 for each 28-day qualifying restrictions period.
The grants are per property and administered by local authorities in England. If a client is based in Scotland, Wales or Northern Ireland you should check with the relevant authority to check the available support.
Central Government have also made additional funds available to local authorities to make discretionary payments to affected businesses in their area. You should check with the relevant authority to see what support might be available to your clients.
Further information will come available on the Gov Website: https://www.gov.uk/coronavirus/business-support?priority-taxon=774cee22-d896-44c1-a611-e3109cce8eae