Grant Funding Scheme Comes into Operation
2nd April 2020
The Grants Scheme comes into operation today, with a new version of the guidance to businesses being produced.
As part of the Scheme’s launch, the Government has announced that it made a payment of £3.4 billion to local authorities last week so that funding is immediately available for eligible businesses.
Here’s the Government’s announcement:
Thousands of high street firms are beginning to receive £25,000 cash grants and will be exempt from business rates from today (Wednesday 1st April 2020) – as they begin to benefit from a £22 billion package.
As part of a raft of unprecedented measures announced by the Chancellor to support those affected by the coronavirus outbreak, eligible properties, including those in the retail, hospitality and leisure sectors, will not pay business rates for the next 12 months. The measure comes into force today and will save firms in England £11 billion.