Act quick – New discretionary funding from local councils and news on business interruption policy – 01 February 2021

New discretionary funding available from local councils

New discretionary funding has been made available from local councils with effect from 01 February.

The grants are intended to help businesses that have not been able to receive support under the LRSG Scheme (Local Restrictions Support Grant).

Details of the information provided by Plymouth City Council is attached and would suspect that similar rules and backgrounds will apply to all councils.

Any applications should be made through your own local council and would strongly recommend that if you think you might be eligible to be considered then an application is made as soon as possible as there are limited funds and these tend to run out very quickly.

Need help? Then please call us, we will be more than happy to receive your call and help you!

How does a business interruption policy payout interact with government support grants

On 18 January 2021 the Supreme Court ruled that insurance companies must pay out on business interruption insurance policies which included clauses for loss of income resulting from notifiable diseases (coronavirus) and enforced closure of business premises.

Most insurers gave an undertaking in September 2020 that they would not deduct government coronavirus support grants from business interruption payouts.  And further payouts don’t count as income for the purpose of working out entitlement to government grants.

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