Earlier this year the Government announced grants available for small businesses and business in the retail hospitality and leisure industries. Effective from 5 November 2020, the start of the second English lockdown, businesses who have been ordered to close for four weeks may be eligible for a government grant of up to £3,000.
Eligible businesses will get one grant for each property liable for business rates and grants will be based on the rateable value of the property on the first full day of lockdown restrictions.
The grants are based on business rates and whilst not as large as the £10,000 and £25,000 grants available earlier in the year they will be a welcome relief to businesses forced to close during the second lockdown.
The grants are available for 4 week periods at:
- £1,334 for properties with a rateable value of £15k or less
- £2,000 for properties with a rateable value of between £15k-£51k
- £3,000 for properties with a rateable value of £51k
They will also be paid for 2 week periods at half the 4 week figure. Businesses that have had to be closed since March 2020, such as nightclubs, will also be eligible for £3,000 from 1 November.
The grants will be distributed via Local Councils and how to apply should appear on the Council’s website this week.
Businesses in the retail, hospitality and leisure sectors should already be receiving 100% rates relief but if you are not and would like to discuss how Aitchison Raffety may be able to help you please contact our Business Rates team on 01727 732 222.