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Financial Assistance By Local Council – Grants
e Financial Assistance By Local Council – Grants
The government has announced two major incentives for local businesses affected by the coronavirus: a business rates holiday for the year 2020-21 and cash grants for small businesses. Local Councils or Authorities will deliver the grants to 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 |
These aroccupied 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.