Coronavirus Restrictions Fund Opens Tuesday 20th October The Scottish Government has announced £40 million in funding for businesses in Scotland affected by the temporary coronavirus (COVID-19) brake restrictions that came into effect from 9 October 2020. The support funds will be administered by local authorities, providing one-off grants to hospitality and other businesses required to close by the brake restrictions. Local authorities, such as Fife, in the second tier level of support, will take applications for a discretionary business hardship fund, with payments of £1,000 or £1,500, depending on Rateable Value, with a smaller grant of £1,000 for businesses with a Rateable Value (RV) of under £51,000 and a larger grant of £1,500 for businesses with an RV over £51,000, up to a total of £10,000 for eligible businesses operating multiple premises. The business closure fund will operate as a two-tiered scheme, with businesses in other areas of Scotland who have been required to close completely with a Rateable Value (RV) of under £51,000, eligible to apply for a grant of £2,000 and a larger grant of £3,000 for businesses with an RV over £51,000, up to a maximum of £15,000 in total for any eligible business operating multiple premises. |