Covid-19 New Year Update
With news of further lockdown restrictions to curb the spread of the new strain of coronavirus, the Government has also announced further support to businesses most affected by the lockdown. Eat Work Art has outlined the support available for the residents in the retail, hospitality and leisure sectors and how to apply.
Government Grant information
£4.6 billion has been allocated in new lockdown grants to support businesses and protect jobs. Chancellor Rishi Sunak told the BBC he was ‘committed to protecting jobs and supporting businesses” until spring. Here’s what to expect:
- This is a top-up grant open to hospitality, retail and leisure sector businesses with a physical premises who have to close from Wednesday 6th January until at least mid-February
- The amount of loan amount offered to business owners is variable depending on the level of rates paid by a site.
- Smallest closed sites with a rateable value of up to £15,000 will be able to claim £4,000
- Medium sized sites with rates between £15,000-51,000 will be eligible for up-to £6,000 in grant support
- Any business with a rateable value of more than £51k will be eligible for the largest package of £9,000 for the period in which they are closed.
How to apply?
All applications need to be made via the local authorities, Hackney Council. The councils are responsible for distributing the funds to all eligible businesses large and small, similarly to the 2nd lockdown in November.
You will need:
- A passport or driving license
- VAT registration number
- Unique taxpayer reference
- Copies of business account bank statements
If you can’t find the up-to-date information you need, please contact: email@example.com
Not eligible for the top-up grant but severely affected by lockdown restrictions?
The Chancellor has also announced a new £594 million aid package to extend local authorities’ discretionary grants, which are intended to support those businesses not eligible. These funds are given at the discretion of councils, for businesses who potentially do not pay business rates but have been affected in their day-to-day operation. This application is also made through the local authority, Hackney Council.
Furlough scheme update
From 17th December the Furlough scheme was extended until 30th April 2021 with the government continuing to contribute 80% towards wages. Claims for furlough days in December 2020 must be made by 14th January 2021.
There is no further review since the lockdown announcement, but all information can be found here.
7th January, 2021