Posted by jonathanfullarton - December 17, 2020 9:30 am
COVID-19 business grants and business rate support
The government has announced business rate support and grants for business affected by Covid-19. On this page we take a look at this support in more detail.
Updated April 2021
The government has introduced a number of new grants and business support following the Spring Budget. For more up to date details of these please click our most recent blog.
Chancellor extends grant schemes
17 December
Businesses who have been adversely affected by Covid-19 will now have until the end of March to access government loan schemes following an announcement by Rishi Sunak, Chancellor of the Exchequer.
He also announced the date for the Spring Budget which will take place on the 3rd March 2021. We will keep you posted on details of the Budget and how this will affect you so do check our blog area after this date for more information.
Support Grants for businesses in England – an update
Coronavirus grant due to national restrictions (for closed businesses):
Businesses that were open as usual, but then required to close due to national restrictions imposed by government may be eligible for the LRSG (Closed) Addendum schemes:
- from 5 January 2021 onwards
- between 5 November and 2 December 2020
Eligible businesses may be entitled to a cash grant from their local council for each period under national restrictions.
Please note that when national restrictions are introduced and businesses are required to close, the LRSG (Closed) Addendum schemes supersede the LRSG (Closed), LRSG (Open) and LRSG (Sector) schemes.
For more information and to check your eligibility click here.
Coronavirus Local Restrictions Support Grant (for closed businesses):
The Local Restrictions Support Grants (LRSG (Closed) and LRSG (Closed) Addendum: Tier 4) support businesses that have been required to close due to temporary local restrictions. Please instead refer to above.
For more details click here.
Coronavirus Local Restrictions Support Grant (for open businesses):
The LRSG (Open) provides local support to businesses in England severely impacted due to temporary local restrictions.
Businesses which have not had to close but have been severely impacted due to local Tier 2 or Tier 3 restrictions may be eligible for LRSG (Open).
Eligible businesses may be entitled to a cash grant from their local council for each 14 day period under local restrictions.
Local councils have the discretion to provide grant funding for businesses under this scheme based on their application process.
To check your eligibility and for further information, click here.
Nightclubs, dance halls or adult-entertainment businesses
If you businesses falls within these sectors you can also check if your business is eligible for a coronavirus grant due to national restrictions: Businesses in England that have been required to close due to the national restrictions introduced in March 2020, and have not been able to re-open, may be eligible for the Local Restrictions Support Grant (LRSG (Sector)). If your business is eligible, you will be entitled to a cash grant from your local council for each 14-day period your business is closed.
For further information and to check your eligibility, click here.
Coronavirus Additional Restrictions Grant (ARG):
ARG supports those businesses not covered by other grant schemes or where additional funding is required. This scheme provides local councils with grant funding to support closed businesses that do not directly pay business rates as well as businesses that do not have to close but which have been impacted by Covid-19. In addition, larger grants can be given than those made through LRSG (Closed).
Click here to check your eligibility and for further information.
New Guidance
The Coronavirus Bounce Back Loan:
The Bounce Back Loan Scheme is designed to enable smaller businesses to access finance more quickly during the coronavirus outbreak.
Please note that new options are available to top up existing loans, extend the loan period, make interest-only repayments, or pause repayments.
The scheme is open to applications until 31 March 2021.
If you already have a Bounce Back Loan but borrowed less than you were entitled to, you can top up your existing loan to your maximum amount. You must request the top-up by 31 March 2021.
Further information can be found here.
Claiming Statutory Sick Pay (SSP) paid to employees during the pandemic
Use the online service to check eligibility and claim back SSP. The online service is available now.
For further details click here.
Restaurants, pubs and cafes – the extension of takeaways
Businesses in this sector have been given automatic freedom to provide takeaway services for another year. This has been extended until 23 March 2022.
For more details click here.
HRC Briefing document
HMRC have issued a briefing on how they will work with customers and stakeholders over the coming months, while COVID-19 continues to impact the country. You can view that briefing here.
For more details about what help and support is available for you please visit the Gov.UK website here.
Small Business Rate Relief
As announced in the Spring Budget, shops, restaurants, cinemas and music venues with a rateable value of up to £51k will have no business rates for the next year. The 10,000s of businesses currently in the retail, leisure and hospitality sectors but not covered above will also see an extension to the 100% retail discount (for businesses with a rateable value of less than £51k). A review of business rates will also be conducted prior to the Autumn Budget, with further information to follow.
For further help during COVID-19 please contact your local MFW office.
For other information on other Covid-19 measures please visit our Covid-19 Hub page.
