With Essex moving into Tier 2 high risk category and Wales introducing a “fire-break” lockdown, do you predict the Government implementing a second lockdown during the autumn half-term break? Covid19 is certainly not going any. Now is the time to learn if your business qualifies for the Local Restrictions Support Grant Scheme
Eligible businesses who are within the relevant Local Authority area covered by localised restrictions will receive a grant for each eligible property during a period that the restrictions are imposed because of the use of Government powers.
How much financial support is available during localised restrictions for my business?
The government have recently made these grants more generous so that businesses in England can receive up to £3,000 per month, and are eligible for payment sooner, after only two weeks of closure rather than three. This could benefit hundreds of thousands of businesses, including restaurants, pubs, nightclubs, bowling alleys and many more.
The Rateable Value of my Property is under £15,000 a month – will I receive a grant?
Properties with a rateable value of £15,000 or under will receive grants of £667 per two weeks of closure (£1,334 per month).
Will I qualify for the Local Restrictions Support Grant if my business premises Rateable value is over £15k but under £51,000?
Yes, properties with a rateable value of over £15,000 and less than £51,000 will receive grants of £1,000 per two weeks of closure (£2,000 per month).
And properties with a rateable value of £51,000 or over will receive grants of £1500 per two weeks of closure (£3,000 per month).
Is this grant only available for Local Restrictions?
The government is also extending the scheme to include businesses which have been forced to close on a national rather than a local basis.
Check if you’re eligible for the coronavirus Local Restrictions Support Grant here
We hope this information helps you and we are here for you during this difficult time. We will continue to keep you updated as the Government releases new information. Our business contingency plan is in place and we will do everything we can to support our clients during this uncertain period, please do not hesitate to contact us here if you have any concerns or queries.
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The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any errors or omission or for any person acting on or refraining from acting on the information provided in the above