Find out about the cash grant for businesses affected by local lockdowns.
What is it?
The government has announced several local lockdowns, during which some businesses have to close their doors.
To help these businesses, and to protect jobs, the Government has announced a new cash grant.
You will only be eligible for this grant in you have had to shut due to a local lockdown. If you have to shut due to a national lockdown, i.e. nightclubs, then you are not eligible.
The grant will apply for each three week lockdown period, and is only available in England, though other grants are available from the devolved powers.
How much do I get?
The grant for larger businesses will be £1,500 per three week lockdown, and for smaller businesses it will be £1,000.
If the rateable value of the business premises is under £51,000, or if the rent for the property is under £51,000, then you will be eligible for the smaller business amount of £1,000.
The grant is distributed by local authorities, and they may have further eligibility requirements.
Local authorities also have a 5% top-up of their business funding to help support businesses not on the business rates list with a payment of up to £1,500.
These grants have to be treated as taxable income.
Covid-19 Financial Support
This support is in addition to other Covid-19 support schemes from the Government which include, amongst others:
- The furlough scheme to help keep your staff employed
- The business rates relief scheme
- Tax deferral schemes for VAT and income tax
- The Retail, Hospitality and Leisure grant
If you want to find out more about these schemes click on the link above to visit the Government website.