Following the announcement of a third national lockdown by the government on 4^th January, the Chancellor has announced a new range of financial support measures to help businesses through the tighter restrictions into the Spring.

Top-up Grants

An estimated 600,000 UK businesses in the retail, hospitality and leisure sectors will be supported through one-off top-up grants worth up to £9,000.

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

•£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

Discretionary Fund

A further £594 million discretionary fund will also be made available to local councils and devolved nations to support businesses which are not eligible for the new grants, but are affected by the tighter restrictions.