The following three schemes have been announced.
- Small Business Grant Funding
- Business Rates Holiday for Retail, Hospitality and Leisure
- Cash Grant for Retail, Hospitality and Leisure
- Top-up to local business grant funds scheme
For more information on specific West London local authority information, please scroll to the end of this article
Small Business Grant Funding
What is it?
The Government is providing additional funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief. This will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs.
Am I eligible?
You will be eligible if:
1. Your business is based in England* AND
2. In receipt of small business rate relief or rural rate relief as of 11 March AND
3. You are a business that occupies property
How do I access it?
Eligible businesses will be contacted by their local authority, though some local authorities have decided to operate an applications process. Any enquiries on eligibility for, or provision of, the grants should be directed to the relevant local authority. To find your local authority, use this search tool.
When can I access it?
An early payment of £3.4 billion was made to local authorities on Friday 27th March 2020 to ensure grants would get to businesses as soon as possible.
Every local authority in England has now received the full amount of grant funding they need to support their local businesses. In most cases, local authorities will need to collect details from small businesses in order to be able to make payments. Local authorities will be in touch with all eligible businesses shortly.
Any enquiries on eligibility for, or provision of, the reliefs and grants should be directed to the relevant local authority. To find your local authority, use this search tool.
For government guidance on this scheme please view here >>
Business rates holiday for retail, hospitality and leisure
What is it?
Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020-21 tax year.
Am I eligible?
You will be eligible if:
1. Your business is based in England*, AND
2. Your business is in the retail, hospitality and/or leisure sector. Properties that will benefit from the relief will be those that are wholly or mainly being used:
a. as shops, restaurants, cafes, drinking establishments, cinemas and live music venues,
b. for assembly and leisure; or
c. and hospitality such as hotels, guest and boarding premises and self-catering accommodation.
Further details on eligibility are set out in the expanded retail discount guidance.
How do I access it?
1. There is no action for you. Local authorities will apply the business rates holiday to your bills. For more information please check the guidance on gov.uk.
2. You can estimate the business rate charge using the business rates calculator.
3. You can find your local authority on gov.uk.
When can I access it?
This will apply to your business rates bills for the 2020/2021 tax year. However, local authorities may have to reissue your bill. They will do this as soon as possible.
For government guidance on this scheme please view here >>
Small Business Grant Funding
What is it?
If your business is in the retail, hospitality or leisure sector, you will receive a cash grant of up to £25,000 per property.
Businesses in these sectors with a property that has a rateable value of £15,000 and under may be eligible for a grant of £10,000.
Businesses in these sectors with a property that has a rateable value of over £15,000 and less than £51,000 may be eligible for a grant of £25,000.
Am I eligible?
You will be eligible if:
1. Your business is based in England*
2. Your business is in the retail, hospitality and/or leisure sector
3. Properties that will benefit from the relief will be occupied properties that are wholly or mainly being used:
- as shops, restaurants, cafes, drinking establishments, cinemas and live music venues
- for assembly and leisure
- as hotels, guest and boarding premises and self-catering accommodation
Businesses with a rateable value of £51,000 or over are not eligible for this scheme.
How do I access it?
Eligible businesses will be contacted by their local authority, though some local authorities have decided to operate an applications process. Any enquiries on eligibility for, or provision of, the grants should be directed to the relevant local authority. To find your local authority, use this search tool.
When can I access it?
An early payment of £3.4 billion was made to local authorities on Friday 27th March 2020 to ensure grants would get to businesses as soon as possible.
Every local authority in England has now received the full amount of grant funding they need to support their local businesses. In most cases, local authorities will need to collect details from small businesses in order to be able to make payments. Local authorities will be in touch with all eligible businesses shortly.
Any enquiries on eligibility for, or provision of, the reliefs and grants should be directed to the relevant local authority. To find your local authority, use this search tool.
For government guidance on this scheme please view here >>
Top up to local business grant funds scheme
A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme.
This additional fund is aimed at small businesses with ongoing fixed property-related costs. We are asking local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates. But local authorities may choose to make payments to other businesses based on local economic need. The allocation of funding will be at the discretion of local authorities.
Businesses must be small, under 50 employees, and they must also be able to demonstrate that they have seen a significant drop of income due to Coronavirus restriction measures.
There will be three levels of grant payments. The maximum will be £25,000. There will also be grants of £10,000. local authorities will have discretion to make payments of any amount under £10,000. It will be for councils to adapt this approach to local circumstances.
Further guidance for local authorities will be set out shortly.