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scottish Business Funding and Grants

By Armstrong Watson

7th January 2021

£375m new COVID funding for Scottish businesses - not exactly new!

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The UK Government announced a new £4.6 billion support package for UK businesses this week, of which £375 million was to be given to Holyrood. But Scottish Finance Secretary Kate Forbes has since confirmed this “additional funding” is not new.  It had been previously announced in 2020 as part of an earlier £8.6 billion fund. 

The technicalities of this are more intriguing, with the fund amounts being guaranteed but not necessarily paid by the Treasury at this point as a result of the quirks of the Barnett Formula. 

COVID-19 Support Currently Available 

Extension Business Rates Relief for retail, leisure and aviation sectors - Extended until 2022.

The Scottish government has confirmed that it is extending 100% of its business rates relief for the hospitality, retail, leisure and aviation sectors for another year.

Full details for the Business Rates Relief

Job Retention Scheme – Extended until September 2021

The job retention scheme continues to operate throughout the UK and has been extended again until September 2021. 

More information on business support can be found here: https://findbusinesssupport.gov.scot/service/funding/coronavirus-job-retention-scheme 

Legal Aid Support 

The Scottish Government has identified a £20million fund in respect of legal aid solicitors. 

They will benefit from a 10% uplift in legal aid fees and have access to a £9million fund to help those experiencing hardship as a result of COVID-19.

Further details can be found here: https://www.gov.scot/news/supporting-the-legal-profession/ 

For further information on COVID-19 assistance, please visit our dedicated page or get in touch with Jim Lockhart on 07786 158687 or email james.lockhart@armstrongwatson.co.uk

Visit our Covid-19 support hub

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