- Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the Chancellor has announced.
- The cash is provided on a per-property basis to support businesses through the latest restrictions
- The Furlough scheme now extended to April and 100% government backed loans, extended until March.
On 3rd of March, further consideration will be made on whether to extend the support packages
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 under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
- any business which is legally required to close, and which cannot operate effectively remotely, is eligible for a grant
Full HMRC article available here: https://www.gov.uk/government/news/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs
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