The Chancellor has announced that non-essential retailers that have had to close as a result of further restrictions will receive up to £9,000 per property. This is a one-off payment that is expected to cost the Treasury £4bn. The package is expected to include a discretionary fund of £594m for other businesses that have been affected by the lockdown.
The one-off grants to closed businesses will mean up to £4,000 for premises with a rateable value of £15,000 or under, £6,000 for those worth between £15,000 and £51,000 and £9,000 for properties valued at over £51,000.
It is unclear as to when businesses can apply for the funding and we will inform you as soon as we know more.
