Contact Us

The scheme, designed to offer an additional safety net to local retailers and protect jobs wherever possible, is available on a per-property basis. Businesses with multiple properties in an area affected by a local lockdown or targeted restrictions will be able to claim up to £1,500 per property. 

Any retailer occupying premises with a rateable value of £51,000 or greater, or a property subject to an annual rent or mortgage of £51,000 or greater, will receive the full £1,500 grant. 

Cash grants worth £1,000 will also be made available to smaller businesses occupying premises with rateable values, annual rent or mortgages of less than £51,000. 

The grants will be administered by local councils, with details of how to apply still to be announced. 

In addition, local authorities are to receive a further 5% top-up in their business support funds. This can be used to provide discretionary aid to other small firms affected by closures that the business rates list does not relate to. 

Any type of business operation still legally prohibited from opening at a national level, such as nightclubs, will not be eligible for the new cash grants during the coronavirus pandemic

Mike Cherry, National Chairman of the Federation of Small Businesses (FSB), labelled the grants as “critical” for local businesses and welcomed them bringing a “much needed additional financial lifeline to those most harmed”. 

“We look forward to working together with local government to make sure there is a straightforward [application] process for all firms affected,” added Cherry. 

Business Secretary, Alok Sharma, said that the grants were necessary because “no business should be punished for doing the right thing”. 

“Through our wider Plan for Jobs, we will continue to back our innovators and job creators across the country who are playing a critical role as we build back better from the pandemic,” added Mr Sharma. 

Date published 14 Sep 2020 | Last updated 7 Oct 2020

Choose the right accounting firm for you

Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?

Local business focus icon

Local business focus

We specialise in supporting independent businesses and work with 80,684 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.

Come and meet us icon

Come and meet us

We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 409 locations, meet with us online through video call software, or talk to us by telephone.

Switching is simple icon

Switching is simple

Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.

See how TaxAssist Accountants can help you with a free, no obligation consultation

0800 0523 555

Or contact us