Grants For Businesses Affected By Local Lockdowns
You can claim up to £1,500 every three weeks ...
Posted by Roger Eddowes on 17/09/2020 @ 8:00AM
With more and more restrictions coming in across the country to fend off a second Coronavirus spike, the Treasury has offered grants for businesses affected by local lockdowns ...
Local authories can also offer discretionary grants for businesses in their local lockdown area!
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Many businesses are being forced to close as local lockdowns come into force around the country. If yours is affected, then you can claim a grant worth up to £1,500 per property every three weeks.
"That's in addition to any other Government support
you may be receiving!"
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.
Until next time ...
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About Roger Eddowes ...
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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