Financial Support For Businesses During Lockdown
January 5, 2021
As with the original lockdown, the Chancellor Rishi Sunak has put in place a comprehensive plan to ensure businesses are supported through this next stage of the pandemic.
Retail, hospitality and leisure business premises forced to close can claim a one-off grant of up to £9,000.The one-off additional grant each business premises will receive depends on their rateable value:
– a rateable value of £51,000 or above: £9,000
– a rateable value between £15,000 and £51,000: £6,000
– a rateable value of £15,000 or below: £4,000
Local authorities will receive funding to administer the grants next week then City of York Council will distribute grants accordingly.
Businesses will still continue to receive the monthly grants that were originally introduced when York entered Tier 2 then upgraded during the November lockdown and when we subsequently were placed in Tier 3. These grants are worth up to £3,000 per month and if you are currently not receiving this support then Julian would strongly encourage you to contact City of York Council’s COVID business rates department to see if your business is eligible.
For businesses that do not qualify for business rates linked grants or are not in the sectors designated for grant funding, City of York Council will also be allocated funding that they can allocate at their discretion.
The furlough scheme remains to support employees’ wages and the Self Employment Income Support Scheme is currently set to cover income up until the end of April.
If you would like clarification of what financial support you are eligible for please contact Julian by emailing email@example.com.