{"id":217851,"date":"2021-01-12T10:54:27","date_gmt":"2021-01-12T10:54:27","guid":{"rendered":"https:\/\/www.pearlaccountants.com\/?p=217851"},"modified":"2023-05-23T07:56:45","modified_gmt":"2023-05-23T07:56:45","slug":"uk-government-4-6-billion-in-lockdown-grants","status":"publish","type":"post","link":"https:\/\/www.pearlaccountants.com\/blogs\/uk-government-4-6-billion-in-lockdown-grants\/","title":{"rendered":"Government Offers \u00a34.6 Billion in Lockdown Grants \u2014 UK Lockdown 3.0"},"content":{"rendered":"\n<p>Brits were devastated on Monday night as Number 10 announced an unprecedented third national lockdown, including the mass closure of schools, universities (with only a few exceptions), \u201cnon-essential\u201d shops, leisure venues, entertainment venues, pubs, and restaurants.<\/p>\n\n\n\n<p>On 6 January 2021, the familiar scene of the Chancellor of the Exchequer Rishi Sunak filled British TV screens as he announced another injection of financial support for hamstrung UK businesses in the retail, hospitality and leisure sectors, as well as potential assistance for businesses in other sectors.<\/p>\n\n\n\n<p>As usual, the numbers sound big when mentioned as a whole. But, divided by business, this is how they break down:<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/uk-government-4-6-billion-in-lockdown-grants\/#Who_gets_what_in_the_new_grant\" title=\"Who gets what in the new grant?\">Who gets what in the new grant?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/uk-government-4-6-billion-in-lockdown-grants\/#Other_assistance\" title=\"Other assistance\">Other assistance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.pearlaccountants.com\/blogs\/uk-government-4-6-billion-in-lockdown-grants\/#How_to_apply_for_the_grant\" title=\"How to apply for the grant\">How to apply for the grant<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_gets_what_in_the_new_grant\"><\/span>Who gets what in the new grant?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Businesses in the retail, hospitality and leisure sector can get up to \u00a39,000 \u201cper property\u201d.<\/p>\n\n\n\n<p>The grant is available only to businesses which are legally required to close or which \u201ccannot operate effectively remotely\u201d (for example, gyms).<\/p>\n\n\n\n<p>The actual amount given is dependent on the business\u2019s <a href=\"https:\/\/www.definitions.net\/definition\/rateable%20value\">rateable value<\/a>.<\/p>\n\n\n\n<p>Businesses with a rateable value of \u00a315,000 or less are eligible for a one-off \u00a34,000 grant. Businesses with a rateable value of \u00a315,000 and \u00a351,000 are eligible for \u00a36,000. The remaining businesses are eligible for the full \u00a39,000.<\/p>\n\n\n\n<p>This grant comes in addition to existing lending schemes which are already in place to assist businesses, such as the Winter Economy Plan and the Self Employment Income Support Scheme.<\/p>\n\n\n\n<p>Businesses in the retail, hospitality and leisure sector are also being given 100 per cent rates relief.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_assistance\"><\/span>Other assistance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"830\" height=\"551\" src=\"https:\/\/www.pearlaccountants.com\/wp-content\/uploads\/2021\/01\/Other-assistance.png\" alt=\"Other assistance\" class=\"wp-image-218558\" srcset=\"https:\/\/www.pearlaccountants.com\/wp-content\/uploads\/2021\/01\/Other-assistance.png 830w, https:\/\/www.pearlaccountants.com\/wp-content\/uploads\/2021\/01\/Other-assistance-300x199.png 300w\" sizes=\"(max-width: 830px) 100vw, 830px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>If your business does not meet the criteria above (for example, if it is in another sector or does not pay business rates) and is therefore ineligible for the grant, then it might still be able to receive alternative funding as a result of an additional \u00a3594 million discretionary fund which has been made available for these cases in particular.<\/p>\n<\/div>\n<\/div>\n\n\n\n<p>There is also already a \u00a31.1 billion existing discretionary fund available for Local Authorities to assist businesses. (You should query your Local Authority for details. We can assist as needed.)<\/p>\n\n\n\n<p>It also might be possible to obtain \u00a33,000 monthly assistance for closed businesses in other sectors as well as up to \u00a32,100 per month once your business reopens. (Please contact us for details so we can understand your specific case and advise you on which particular grant or source of funding might be the best match for your particular circumstances.)<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.pearlaccountants.com\/blogs\/vat-zero-rating-for-personal-protective-equipment-ppe\/\">Coronavirus Job Retention Scheme<\/a> (CJRS, commonly referred to as the \u201cfurlough scheme\u201d) has been extended until April 2021. This scheme promises 80 per cent of employees\u2019 wages who are placed on furlough (up to a cap of \u00a32,500).<\/p>\n\n\n\n<p>The government\u2019s 100-per-cent-backed <a href=\"https:\/\/www.pearlaccountants.com\/blogs\/how-to-successfully-apply-for-a-bounce-back-loan-bbl\/\">Bounce Back Loan Scheme<\/a> has been extended until March.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_apply_for_the_grant\"><\/span>How to apply for the grant<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Applications for the new grant must be done through one\u2019s local authority.<\/p>\n\n\n\n<p>If you are uncertain which is the correct local authority for your business, you can use <a href=\"https:\/\/www.gov.uk\/guidance\/check-if-your-business-is-eligible-for-a-coronavirus-grant-due-to-national-restrictions-for-closed-businesses\">this external link<\/a> for assistance.<\/p>\n\n\n\n<p>We are also able to assist you to whatever degree possible with your application. Please <a href=\"https:\/\/www.pearlaccountants.com\/contact\/\">contact us<\/a> for details.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brits were devastated on Monday night as Number 10 announced an unprecedented third national lockdown, including the mass closure of schools, universities (with only a few exceptions), \u201cnon-essential\u201d shops, leisure venues, entertainment venues, pubs, and restaurants. On 6 January 2021, the familiar scene of the Chancellor of the Exchequer Rishi Sunak filled British TV screens <a href=\"https:\/\/www.pearlaccountants.com\/blogs\/uk-government-4-6-billion-in-lockdown-grants\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  Government Offers \u00a34.6 Billion in Lockdown Grants \u2014 UK Lockdown 3.0<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":217852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2208,2195,2198,2211],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Government Offers \u00a34.6 Billion in Lockdown Grants - Pearl Accountants<\/title>\n<meta name=\"description\" content=\"On 6 January 2021, the Chancellor announced potential funding of \u00a39,000 for businesses forced to close due to Lockdown 3.0. 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