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Latest Govt Announcements COVID-19

Small Business Grant Funding

You may be aware that businesses in the retail, hospitality and leisure sectors will not have to pay rates for the 2020-21 tax year as part of the Government’s Coronavirus Financial Support.

However, did you know that the Government is also providing funding for Local Authorities to support all small businesses that already pay little or no rates because they receive Small Business Rates Relief, Rural Rate Relief and tapered relief?

Eligible businesses will receive a one-off grant of £10,000 to meet ongoing business needs.

Your business is eligible if:

  • your business receives small business rate relief or rural rate relief as of 11 March 2020
  • and the business occupies a property
  • and the rateable value/net annual value falls below the following thresholds:
    • England – £0 – £15,000
    • Wales – £0 – £12,000
    • Northern Ireland – £0 – £14,999
    • Scotland – £0 – £18,000

Grants will be paid automatically (except in Scotland) by local authorities to the person named as the ratepayer in the local authority’s records on 11 March 2020.

 

Cash Grant for Retail, Hospitality and Leisure

If your business is in the retail, hospitality or leisure sector, you will receive a cash grant of up to £25,000 per property as follows:

  • £10,000 for properties with a rateable value of up to £15,000
  • £25,000 for properties with a rateable value over £15,000 and below £51,000 (based on rateable values recorded on the rating list at 11 March 2020)

 

You will be eligible if:

  • your business is based in England (different rules may apply in Wales, Scotland and Northern Ireland – see below).
  • your business in in the retail, hospitality and/or leisure sector.
  • you occupy property (note – premises closed temporarily due to the government’s advice on COVID-19 will be treated as occupied for the purposes of this relief).

 

Properties that will benefit from this relief will be those that are wholly or mainly being used:

  • as shops, restaurants, cafes, drinking establishments, cinemas and live music venues
  • for assembly or leisure
  • hospitality such as hotels, guest and boarding premises and self-catering accommodation

 

Both Grants will be paid automatically by local authorities to the person named as the ratepayer in the local authority’s records on 11 March 2020.

Although automatic, we would recommend that, if you think you qualify, you contact your local authority to ensure that they have the correct details for the property that your business occupies.

 

You can find your local authority using this search tool –  https://www.gov.uk/find-local-council

 

Further information is available at –

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/877065/small-business-grant-fund-and-retail-guidance-v2.pdf

 

Scotland

In Scotland these grants will be made as two types of grants:

  • a one-off £10,000 grant to ratepayers of small businesses (as above)
  • a one-off grant of £25,000 available to retail, hospitality and leisure business ratepayers with a rateable value between £18,001 and £50,999.

Details on how to access these grants can be found here:

https://www.gov.scot/news/gbp-1-billion-business-support-fund-opens/

 

Wales

As above.

Details on how to access these grants can be found here:

https://businesswales.gov.wales/covid-19-grants?_ga=2.217382558.965190024.1585743863-1400770296.1585743863

 

Northern Ireland

Grants should be paid automatically, but businesses that have not received their payment should apply online:

https://www.nibusinessinfo.co.uk/content/coronavirus-business-support-grant-schemes

 

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