Cash grants will be available to all businesses with property that are required to close during the recently announced national lockdown.
Businesses in England that are required to close due to the new restrictions will be eligible for cash grants based on the properties rateable value at the following rates:
- For properties with a rateable value of £15k or under, grants of £1,334 per month
- For properties with a rateable value of between £15k-£51k grants of £2,000 per month
- For properties with a rateable value of £51k or over grants to be £3,000 per month
Local councils may at their discretion also provide funding for businesses that don’t pay business rates.
As business grants are a devolved power, funds have been provided to the devolved nations, which they may use to create their own similar grant scheme.
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