£10,000 for small businesses.

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Full details published here on the conditions for the grants for business rates paying businesses - all businesses £10,000, Retail, Hospitality and Leisure up to £25,000.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/875348/small-business-grant-fund-and-retail-guidance-v2.pdf


Comments

  1. Unknown23 March 2020 at 02:38

    Will this cover holiday lets registered for business rates but under the threshold for paying?

    ReplyDelete
    Replies
    1. Matt Parrett - Tax Shop Accountants23 March 2020 at 03:35

      As it currently stands, yes that should qualify. Although there are complaints that wealthy individuals with second homes who claim business rates and therefore small business relief, will be getting funds that they don't need.

      Delete
  2. Matt Parrett - Tax Shop Accountants24 March 2020 at 06:42

    As per the Govt 24/3/20
    "There will be a £10,000 cash grant to our smallest businesses, delivered by local authorities. Small businesses that pay little or no business rates and are eligible for small business rate relief (SBBR) or rural rate relief will be contacted by their local authority - they do not need to apply. The funding will be provided to local authorities in early April. Guidance is available for local authorities on managing the scheme."

    ReplyDelete
  3. Matt Parrett - Tax Shop Accountants24 March 2020 at 23:26

    Small Business Grant Fund (SBGF) – £10,000 available to those eligible for the small business rate relief scheme or rural rate relief scheme– essentially firms occupying properties with a rateable value of less than £15,000.
    Retail, Hospitality and Leisure Grant (RHLG) – enhanced grant created for businesses that qualified for the Expanded Retail Discount announced all the way back in late January. Retail, hospitality and leisure businesses with a rateable value of up to £15,000 will get a grant of £10,000, while those with property valuations between £15,000 and £51,000 will be eligible for £25,000.
    Some of the key conditions affecting both schemes include:

    Effective from 11 March 2020. Businesses that were dissolved before that date will not be eligible
    Only available for companies in England
    Premises occupied for personal uses will be excluded, along with car parks and parking spaces
    Local authorities can choose to withhold or award grants where they feel their valuations for a property were inaccurate on 11 March 2020. “This is entirely at the discretion of the local authority and only intended to prevent manifest errors,” the BEIS advised.
    Nor will the small business grants be available for home-workers who do not pay business rates. AccountingWEB understands that Chancellor Rishi Sunak may introduce new measures to support the self-employed later this week.

    ReplyDelete
  4. Matt Parrett - Tax Shop Accountants31 March 2020 at 04:23

    Having researched this for my own business, you should now actually be able to make your claim for your £10,000/£25,000 grant online.
    Each local authority has a different website, so the first hurdle is to find the form. For example in Wellington, we are Somerset West and Taunton and the link to this is this page https://www.somersetwestandtaunton.gov.uk/business-rates/business-grants-covid-19-response/
    I suggest the following:Get a copy of your rates bill and see who you are underPaste that into google plus the words "Business support grant application"RegisterFill the form inYou will need to upload your rates billYou will need to upload a bank statement - some IT skills will be needed to hide certain private elements on your bank statementYou will need your vat numberand your company numberGood luck with this

    ReplyDelete
  5. Matt Parrett - Tax Shop Accountants2 April 2020 at 13:31

    First client of mine got their £25K cheque for their pub today - so get those claims in!

    ReplyDelete
  6. Anonymous8 April 2020 at 01:11

    Had my 10k come in today! Slight relief.
    Joe

    ReplyDelete

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