Restart Grants up to £6,000 announced for shops planning to reopen

The £5 billion Restart Grant scheme has been designed to support businesses in the non-essential retail sector which plan to reopen and help them through until 21st June when it is hoped the last of the COVID-19 restrictions are lifted.

The grants were announced in the Budget on 3rd March and will be available from 1st April 2021 – although businesses will be able to apply in advance.

Depending on their rateable value eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000 and those in the hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up to £18,000.

The devolved governments in Scotland, Wales and Northern Ireland already have in place - or are expected to shortly announce - similar grant schemes to help non-essential businesses.

The Restart Grant scheme is being administered by local councils in England and is expected to help 700,000 business owners including those running shops, pubs, clubs, hotels restaurants, gyms and hair salons.

The new scheme will replace the monthly Local Restrictions Support Grant (closed) and Local Restrictions Support Grant (closed) which are both set to end on 31st March.

In addition, local authorities in England will also receive an extra £425 million to distribute grants to businesses not eligible for a Restart Grant but have been impacted by coronavirus restrictions.

Further funding to help businesses across the UK during the pandemic will also be available from a new Recovery Loan Scheme, which will replace existing Coronavirus Business Interruption Loan Scheme and Bounce Back Loans.  The new scheme will offer businesses of any size continued access to loans and other types of finance to help them recover and grow following the disruption of the pandemic. 

How much will you receive from the Restart Grant scheme

The Restart Grant will support non-essential retail premises with one-off grants of up to £6,000 in Strand One of the Restart Grant. The following thresholds apply for these businesses occupying property with:

• A rateable value of exactly £15,000 or under on 1st April 2021 will receive a payment of £2,667.
• A rateable value over £15,000 and less than £51,000 on 1st April 2021 will receive a payment of £4,000.
• A rateable value of exactly £51,000 or over on 1st April 2021 will receive a payment of £6,000.14.

The Restart Grant will also support hospitality, accommodation, leisure, personal care and gym business premises with one-off  grants of up to £18,000 in Strand Two of the Restart Grant. The following thresholds apply for these businesses occupying property with:

• A rateable value of exactly £15,000 or under on 1st April 2021 will receive a payment of £8,000. 
• A rateable value over £15,000 and less than £51,000 on 1st April 2021 will receive a payment of £12,000. 
• A rateable value of exactly £51,000 or over on 1st April 2021 will receive a payment of £18,000.

 

Last updated: 23rd March 2021