With more and more restrictions coming in the face of a Coronavirus spike, the Treasury has offered grants for businesses affected by local lockdowns ...
Eligible businesses are ones that have been required to close because of a local lockdown. Larger businesses will receive £1,500, and smaller ones get £1,000. This repeating cycle happens every three weeks for the duration of the local lockdown. National scale businesses will not be eligible.
The size of the grant is dependant on the rateable value of the property the businesses occupies. Those with a rateable value less than £51,000 get £1,000 and above that threshold, £1,500. If your business rents rather than owns, the grant is still payable based on the rent you pay to your landlord.
Local authorities will get an additional 5% top-up in their business support funding. This means they can help other businesses, not on the business rates list. This is a discretionary fund and can be up to the £1,500 limit, but may also be less than £1,000 at times.
Remember, although this is a grant, it is still taxable.
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