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Closed For Business Lockdown Payment - What you need to know!

Closed For Business Lockdown Payment - What you need to know!

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Closed For Business Lockdown Payment

What is it?

A one-off top up grant for retail, hospitality and leisure businesses worth up to £9,000 per property and is in addition to existing grant support. The one-off top-ups will be granted to closed businesses 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

Any business which is legally required to close and which cannot operate effectively remotely, is eligible for the grant. This will contribute to funding which has already been guaranteed by the Government to help businesses plan their COVID-19 response in the months ahead.

Am I eligible?

Your business may be eligible if it:

  • is based in England
  • occupies property on which it pays business rates (and is the ratepayer)
  • has been required to close because of the national restrictions from 5 January 2021 onwards
  • has been unable to provide its usual in-person customer service from its premises

This could include non-essential retail, leisure, personal care, sports facilities, tourism and hospitality businesses. It could also include businesses that operate primarily as an in-person venue, but which have been forced to close those services and provide a takeaway-only service instead.

Eligible businesses can get one grant for each non-domestic property.

Application Deadline

The deadline to apply for the Closed Business Lockdown Payment is 31 March 2021!

Businesses Excluded From The Fund

You cannot get funding if:

  • you can continue to operate during the period of restrictions because you do not depend on providing direct in-person services from your premises (for example, accountants)
  • you have chosen to close, but have not been required to close as part of national restrictions
  • your business is in administration, insolvent or has been struck off the Companies House register
  • you have exceeded the permitted subsidy limit
  • You must notify your local council if your situation changes and you no longer meet the eligibility criteria.

To find out if you are eligible, click here.

Subsidy Allowance

The new domestic subsidy allowance for COVID-19 business support grants took effect on 3 March 2021. Applications made prior to that date are subject t the previous rules.

The scheme is covered by 3 Subsidy Allowances (check out our Subsidy Allowance blog for more info):

  • Small Amounts of Financial Assistance Allowance - you’re allowed up to £335,000 over any period of 3 years.
  • COVID-19 Business Grant Allowance - you’re allowed up to £1,600,000.
  • COVID-19 Business Grant Special Allowance - If you have reached the limits of the two above, you may be able to access further allowance of funding under these scheme rules of up to £9,000,000, provided certain conditions are met.

Grants under these three allowances can be combined for a potential total allowance of up to £10,935,000.

What do I need to do to access it?

Visit your local council’s website to find out how to apply.

Guidance for local authorities can be found here.

Who do I need to speak to?

Speak to your local council to find out how to apply. If you need any help please get in touch.

PS. Whenever you are ready, here's how to grow your construction business...

1. Join our Facebook Group which built completely for businesses within the construction industry. Real people, real support. - Now also available on LinkedIn.

2. Keep up to date with Construction Insider Providing you with industry insight, tips & tricks and much more to make sure you are ahead of your competitors!

3. When you are ready, Become a Saint Financial Group client, and we will provide you with the highest quality solutions to effectively scale your construction business. Book your meeting here!

Written by:

Dylan O'Rourke MAAT

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