Getting paid on time!
Tips to ensure your invoices are paid on time. Getting invoices paid on time is always crucial for your business, but never more so than now! Having regular incoming payments
New grant support was announced yesterday, 9 September. This new grant offers a level of financial support to businesses in areas affected to a local lock-down.
The GOV.UK website HM Treasury announced:
To be eligible for the grant, a business must have been required to close due to local COVID-19 restrictions. The largest businesses will receive £1,500 every three weeks they are required to close. Smaller businesses will receive £1,000.
Payments are triggered by a national decision to close businesses in a high incidence area. Each payment will be made for a three week lock-down period. Each new three week lock-down period triggers an additional payment.
Other details published in the same announcement include:
For those self-isolating in area of local lock-down, further information was also announced last month.
As you can see, this announcement suggests that businesses in affected areas will need to contact their Local Authority to secure funding under this new support initiative.
The UK Government has guaranteed that the devolved administrations will receive at least £12.7 billion on top of their March Budget settlements to help them with their response to Covid-19 this year, with £6.5 billion for the Scottish Government, £4.0 billion for the Welsh Government and £2.2 billion for the Northern Ireland Executive. The Barnett formula will apply in the usual way to any additional funding provided to departments in relation to this intervention.