First of all ..'very important' ... fill your kettle as tea may be required
Sounds as though you will need to replace the valve... as well as work on the tap.
As previously mentioned, if you have a combi, turn the main stopcock off... and if you have the conventional gravity system, the gate valve will stop the hot supply..
More often than not gate valves are seized.
If that is the case ... turn the mains off and drain the hot tank down.
Replace your service valve ... and sort the tap out.
Turn the cold main back on ...
If only it was that easy ... normally the batteries in your torch will be flat... The mains stopcock is seized ... the airing cupboard is packed solid with clothes...you cant find the gate valve ... and if you do, it's seized...you then have to re-pack the cupboard with bras and big pants that have fallen out during the search.
You end up outside looking for a stop-cock in the garden which has been covered with soil for years, and the chamber contains an ants nest when you do find it..!
Happy days ... good luck..!