Business Support Grant Funds and Retail Reliefs
Help for businesses that operate from premises.
Last Updated: 17th May 2020
Help for retail, hospitality and leisure businesses
There will be a business rates holiday for the 2020 to 2021 tax year for retail, hospitality and leisure businesses - i.e. a 100% discount may be claimed and this means eligible businesses won't pay rates. Your local authority should process this automatically if you received the retail discount in the previous tax year. Bills will be reissued if necessary.
Businesses in this sector, with a rateable value between £15,000 and £51,000, will be provided with a £25,000 grant. Your local authority should write to you if you are eligible
If you have not yet received the grant
First, check the post received at your business premises if you can. You may well have a letter from your local authority inviting you to apply for the loan or they might even have sent you a cheque.
Secondly, check out your local authority website – there should be a section on help available for businesses that will take you to the application page. It may be helpful to have a rates bill to hand for the reference numbers relating to the property.
Check out the government guidance for more information HERE.
Help for businesses that pay little or no business rates
The government has clarified that businesses eligible for small business rate relief or rural rate relief on 11th March 2020 will given a one-off grant of £10,000.
You should have been contacted by your local if you are eligible
If you have not yet received the grant
First, check the post received at your business premises if you can. You may well have a letter from your local authority inviting you to apply for the loan or they might even have sent you a cheque.
Secondly, check out your local authority website – there should be a section on help available for businesses that will take you to the application page. It may be helpful to have a rates bill to hand for the reference numbers relating to the property.
Check out the government guidance for more information HERE.
Protection from eviction for commercial tenants
No business will be forced out of their premises if they miss a payment up to 30 June. You should still pay your rent if you can and it is best to talk to your landlord if you have payment difficulties.
Top-up to local business grant funds scheme
The government recently announced that they would give up to £617 million to local authorities to enable them to make grants to small businesses with ongoing fixed property-related costs. This is aimed mainly at businesses with fixed property costs but who did not qualify for the small business grants or retail grants previously announced as they were not on the rates register of their local authority. The main aim is to benefit small businesses such as those in shared spaces, market traders, small charity properties and bed and breakfasts.
We understand there will be three levels of funding : £10,000 and £25,000 grants similarly to the small business and retail grants; and also grants at below £10,000 at the discretion of the local authority which may be based on local need.
Businesses must have less than 50 employees and have seen a significant loss of income due to the coronavirus.
The government has not yet issued the guidance for this.
Check out the announcement here https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme
Keep an eye on your local authority’s website for further information.
Please note that the above is intended as a summary guide only. Please take further advice or check the detailed Government guidance before taking any action.
