Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown.
UK businesses in the retail, hospitality and leisure sectors are to be given one-off grants worth up to £9,000.
The payments are expected to support 600,000 business properties across the UK. A further £594 million will be made available to councils and devolved nations to support businesses not covered by the new grants.
The Chancellor said:
‘The new strain of the virus presents us all with a huge challenge, and whilst the vaccine is being rolled out, we have needed to tighten restrictions further.’
‘Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and… we’re announcing a further cash injection to support businesses and jobs until the spring.’
‘This will help businesses to get through the months ahead – and crucially it will help sustain jobs so workers can be ready to return when they are able to reopen.’
Internet link: GOV.UK news
Have Any Questions?
Our accountancy and tax blog covers the latest updates and advice.
We cover tax, accountancy, payroll, VAT and bookkeeping topics to help support you with business growth and advice on accounting and finance responsibilities.
