Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Firms offered new grants to help during lockdown

11 January 2021
Issue: 4775 / Categories: News

Businesses in the retail, hospitality and leisure sectors across all nations of the UK are to receive a one-off grant worth up to £9,000, the chancellor Rishi Sunak has announced.

The cash will be provided per property to support businesses through the latest restrictions.

Mr Sunak has also made available a £594m discretionary fund to support other businesses affected by the latest lockdown.

In total, the package of measures is worth £4.6bn.

The new one-off grants are in addition to business rates relief for the retail, hospitality and leisure industries, and the furlough scheme which has been extended to the end of April.

Saying the House of Commons’ Treasury committee would be scrutinising the announcement, Mel Stride, committee chair, said: ‘The additional support will be welcomed by many businesses struggling for survival.’ But he warned the chancellor to remember ‘those who have fallen through the gaps around previous support packages as we identified in our report last summer’.

Issue: 4775 / Categories: News
back to top icon