New Lockdown Grants to Support Businesses
Following the Prime Minister’s announcement of the new national lockdown, Rishi Sunak has today announced that businesses forced to close in the retail, hospitality and leisure sector shall receive one-off top up grants.
These grants will be paid on a per property basis at the following rates:
A further £594 million is being made available to Local Authorities to support businesses that are affected by the new restrictions but are not eligible for the above grants. Applications for grants should be made to your relevant Local Authority.
Self Employed Income Support Scheme (“SEISS”)
The deadline for claiming the third round of the SEISS grant closes on 29 January 2021.
To make a claim for the third grant, businesses must have had a new or continuing impact from coronavirus between 1 November 2020 and 29 January 2021 which you believe will result in a significant reduction in your profits between these dates.
Your business may not have been affected from 1 November to date, but with the new national lockdown now in place this may change and you should consider whether you are entitled to the grant. The grant is worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.
The grant is claimed through your Government Gateway account and must be made before 29 January 2021. If you need help in accessing your account then please contact us
Other Continuing Support
As a reminder, the Government are continuing to pay up to 80% of employee wages for hours not work under the Furlough Scheme until 30 April 2021 and access to the various Coronavirus Loan Schemes remains open until 31 March 2021.
We are here to help, so if you have any queries or wish to discuss the above then please contact us