We provide the complete commercial debt recovery service; from outsourced early arrears collections through to expert litigation, all handled in-house by a multi-award-winning law firm.

 

Visit our debt recovery website

Following the announcement of a third national lockdown by the Government on 04 January, Chancellor Rishi Sunak has announced a new range of financial measures to help support businesses in the retail, hospitality and leisure sectors and protect jobs through the tighter lockdown restrictions.

This follows the Prime Minister’s announcement last night that these businesses will be closed until at least February half-term in order to help control the virus, and, together with the wide range of existing support, provides them with certainty through the spring period.

Top-up grants

It is expected that over 600,000 businesses in the retail, hospitality and leisure sectors will be supported through one-off-top-grants worth £4bn in total across all nations of the UK.

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

Discretionary fund

A further £594m discretionary fund will also be made available to Local Authorities and devolved administrations to support other impacted businesses that are not eligible for the new grants.

This comes in addition to £1.1bn further discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and an extension of the furlough scheme.

Further information

Business support is a devolved policy and therefore the responsibility of the devolved administrations, which will receive additional funding as a result of these announcements in the usual manner:

  • The Scottish Government will receive £375m
  • The Welsh Government will receive £227m
  • The Northern Ireland Executive will receive £127m

The full news story can be found here.

For further information and support, please complete the form below.

Scroll to next section

Scroll back to the top

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

For more information on how these cookies work, please refer to our Cookies Policy.

Strictly necessary cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytics Cookies

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our website. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous.

Force24 cookies & tracking

This website utilises Force24’s marketing automation platform. Force24 cookies are first-party cookies and are enabled at the point of cookie acceptance on this website. The cookies are named below:

F24_autoID
F24_personID

They allow us to understand our audience engagement thus allowing better optimisation of marketing activity.