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News

News Update - Top Up Grants for Hospitality, Retail and Leisure Businesses

Thursday 7 January 2021

Businesses in the hospitality, retail, and leisure sectors are to receive a one-off grant worth up to £9,000 to help them through to the spring, the Chancellor has announced.  The additional funding forms part of a £4.6bn package to help the sectors cope with the latest lockdowns announced. 

 

Rishi Sunak commented, ‘throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the spring’ and continued on to say, ‘this will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen’.

 

Dan Green, our business rates expect commented, ‘this is obviously a very positive step to keep businesses afloat in the immediate term and, for that reason, must be welcomed.  A further £594m is also being made available to support other businesses not eligible for the grants, but are affected by the restrictions’.

 

The one-off top-ups will be granted to closed businesses as follows:

•             £4,000 for businesses with a rateable value of £15,000 or less

•             £6,000 for businesses with a rateable value between £15,000 and £51,000

•             £9,000 for businesses with a rateable value greater than £51,000

 

Please contact our business rates specialist for more information:

Daniel Green

E: d.green@flude.com

T: 01243 819000

M: 07584 563425