COVID-19: £4.6 billion pledged in new lockdown grants
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Service: Tax Sector: Real estate & hotels
- £4,000 for businesses with a rateable value of £15,000 or under
- £6,000 for businesses with a rateable value between £15,000 and £51,000
- £9,000 for businesses with a rateable value of over £51,000
These grants come on top of existing business support measures for companies most affected by the pandemic, including grants of up to £3,000 for closed businesses, and up to £2,100 a month for businesses once they reopen.
This latest announcement is undoubtedly good news for businesses in these sectors that have been forced to shut. However, it remains to be seen whether it will be enough to help cash-strapped organisations to survive what is expected to be a very challenging next few months. We expect a more comprehensive package of support measures to be unveiled in the Spring Budget in March…if not before.