Yesterday Chancellor Rishi Sunak announced a £1 billion support package for businesses most impacted by the new wave of Covid.
Amongst other support, businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 per premises, plus more than £100 million discretionary funding will be made available for local authorities to support other businesses. Around 200,000 businesses will be eligible for business grants which will be administered by local authorities and will be available in the coming weeks. We will let you know as soon as registration commences.
- £683M for targeted grants for hospitality and leisure businesses in England
- £102M top-up for the Additional Restrictions Grant
- £30M for Culture Recovery Fund
- £154M of Barnett funding covering all three above
- VAT reduced to 12.5% for hospitality and tourism to support the viability of around 150,000 businesses until the end of March
- Additional funding for the Statutory Sick Pay Rebate scheme
Cash grants of £2,700, £4,000 or £6,000 per premises will be available for each eligible firm, depending on RV size (Harrow’s share will depend on Valuation Office SCAT codes but will cover around 1,000-1,100 business premises). This is specifically to support hospitality and leisure businesses only, which are facing difficulties in the run-up to Christmas.
