03 Nov 2020 9:58 AM

Further to the national lockdown measures announced by the Prime Minister, businesses across the UK are being provided with additional financial support. In addition to the Coronavirus Job Retention Scheme (CJRS) remaining open until December, business premises forced to close in England are to receive grants worth up to £3,000 per month under the Local Restrictions Support Grant. Also, £1.1bn is being given to Local Authorities, distributed on the basis of £20 per head, for one-off payments to enable them to support businesses more broadly.

Businesses required to close in England due to local or national restrictions will be eligible for the following:

  • For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
  • For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
  • For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

The Business Grant Policy is fully devolved which means local councils will administer their own grant distribution.

At present, the guidance is being updated and it expected that the updated guidance for the Local Restrictions Support Grants will be published within the next week.