The Government has announced support for small businesses affected by the Corona-virus outbreak in the retail, hospitality and leisure sectors. Grant funding schemes will be delivered by Local Authorities if you are eligible in the forms of a 'Small Business Grant Fund' or 'Retail, Hospitality and Leisure Grant Fund'.
How will the grants be provided?
Funding will be provided to Local Authorities by the Central Government, who are responsible for business rate billing. Eligible businesses will be contacted to arrange payment of the grants.
In order to receive the grant, Local Authorities will need to identify who the ratepayer for the property is on the 11th March 2020. This will be done using the billing authority's records, if for any reason information held about the ratepayer is inaccurate, funds may be withheld, until steps are taken to identify the correct ratepayer.
Who are eligible?
Your small business will be eligible for the Small Business Grant Fund if:
Your business was eligible for Small Business Rate Relief (SBRR) on the 11th March 2020, including those with a Rateable Value between £12,000 and £15,000 which receive tapered relief.
Your business was eligible for Rural Rate Relief on the 11th March 2020
Your business will be eligible for the Retail, Hospitality and Leisure Grant if:
Your property had a rateable value of less than £50,000 on the 11th March 2020.
Your business would of been eligible for a discount under the business rates Expanded Retail Discount Scheme if the scheme was in effect on the 11th March 2020.
All eligible participants will receive one grant per property, this excludes property occupied for personal use. Dissolved businesses or businesses in liquidation as of 11th March 2020 are also excluded from receiving this grant.
How Much Funding?
All businesses eligible for the Small Business Grant Fund (SBGF) in England will be able to receive a payment for £10,000.
Eligible businesses in England under the Retail, Hospitality and Leisure Grant are entitled to receive a cash payment of either £10,000 or £25,000 per property. Eligible businesses with a property that has a rateable value up to and including £15,000 will receive a grant of £10,000. Eligible businesses with a property that has a rateable value of more than £15,000 and less than £51,000 will receive a grant of £25,000.
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