Financial Assistance By Local Council – Grants
Financial Assistance By Local Council – Grants
The government has announced two major incentives for local business after they are hit by the coronavirus, one being the business rates holiday for the year 2020-21 and the other being providing of cash grants for small businesses. The grants will be delivered through Local Council or Authorities to the eligible businesses within their boroughs.
There are two types of grants funding schemes:
• the Small Business Grant Fund (SBGF)
• the Retail, Hospitality and Leisure Grant Fund (RHLG).
Summary of available Grants:
| Scheme | Small Business Grant Fund (SBGF) | Retail, Hospitality and Leisure Grant Fund (RHLG) |
| Available to: | ||
| All businesses in England in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief (RRR) in the business rates system | Businesses in England in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 | |
| How much | ||
| £10,000 | £10,000
for premises with a rateable value of up to £15,000 |
|
| £25,000
for premises with a rateable value of over £15,000 and less than £51,000 |
||
| Eligibility criteria | ||
| Premises which on the 11 March 2020 were eligible for relief under the business rate Small Business Rate Relief Scheme (including those with a Rateable Value between £12,000 and
£15,000 which receive tapered relief) |
Premises which on the 11 March 2020 had a rateable value of less than £51,000 and would have been eligible for a discount under the business rates Expanded Retail Discount Scheme | |
| Premises which on 11 March 2020 were eligible for relief under the rural rate relief scheme | ||
| Exclusions | ||
| Premises that were not eligible for percentage SBRR relief (including those eligible for the Small Business Rate Multiplier) | Premises with a rateable value of over £51,000 | |
|
Premises occupied for personal uses, e.g. private stables and loose boxes, beach huts and moorings |
Premises occupied for personal uses, e.g. private stables and loose boxes, beach huts and moorings |
|
| Car parks and parking spaces | Car parks and parking spaces | |
| Businesses which as of the 11 March were in liquation or were dissolved | Businesses which as of the 11 March were in liquation or were dissolved | |
This post contains information published by the ACCA and the UK Government.
