Covid-19 – Top up grants.

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Covid-19 – Top up grants.

The Chancellor, Rishi Sunak, has today announced £4.6 billion in lockdown grants.

Businesses in the retail, hospitality and leisure sectors are to receive a one-off top up grant worth up to £9,000.

The cash is to be allocated on a per-property basis to support businesses through the latest restrictions announced by Boris Johnson yesterday.

The one-off top-ups will be granted to closed businesses as follows:

·         £4,000 for businesses with a rateable value of up to £15,000

·         £6,000 for businesses with a rateable value between £15,001 and £51,000

·         £9,000 for businesses with a rateable value of over £51,001

In addition, the devolved administrations will receive further funding for business support and will contribute to the funding already been guaranteed by the UK Government:

·         Scottish Government to receive £375 million

·         Welsh Government to receive £227 million

·         Northern Ireland Executive to receive £127 million