Inca COVID-19 Update: Chancellor Announces New Measures to Support Businesses Following Latest Restrictions
7th January 2021
Welcome to our latest COVID-19 update.
Following the government’s announcement of new national restrictions beginning on 5th January 2021, the Chancellor has announced new financial support to help businesses trade through to spring.
One-Off Top Up Grants
Businesses in the retail, hospitality and leisure sectors forced to close as a result of the latest national restrictions can claim a one-off top up grant worth up to £9,000.
These grants are provided on a per-property basis and are in addition to existing support. Any business which is legally required to close, and which cannot operate effectively remotely, is eligible for a grant 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
Additional Restrictions Grants
The chancellor has pledged further funds for local authorities to support closed businesses that do not directly pay business rates – as well as businesses that do not have to close but which are impacted. Affected businesses can claim an Additional Restrictions Grant (ARG).
Businesses wanting to claim a one-off top up grant or an Additional Restrictions Grant should contact their local authority. Below are direct links to the grant funding pages of the authorities in our region:
- Cherwell District Council
- Oxford City Council
- South Oxfordshire District Council
- Vale of White Horse District Council
- West Oxfordshire District Council
Coronavirus Job Retention Scheme & Self-Employment Support Scheme
The above grants are in addition to the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Support Scheme (SEISS).
CJRS has been extended until the end of April 2021. Make a claim for wages through the Coronavirus Job Retention Scheme.
The new measures contained no additional support for self-employed people but the Self-Employment Income Support Scheme (SEISS) remains open for claims covering the period November 2020 – January 2021 until 29th January 2021. Check if you can claim for a Self-Employment Support Grant.
If you have any questions about claiming support to help your business, please get in touch and we’ll do our very best to help you.
The Inca Team
We hope you find this information useful. Please feel free to share it with other business owners in your contact sphere.
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