Following on from our recent newsletters and factsheets surrounding the financial support on offer to businesses affected by COVID19 and in particular the cash grants available, we have provided some additional detail below on the eligibility criteria and how to access these grants:
1) If I pay little or no business rates:
- In early April, there will be a cash grant of £10,000 available to support small businesses that pay little or no business rates.
- This is a one-off grant and will be available to business currently eligible for SBRR (small business rates relief) and rural rate relief.
- Current advice is that the relevant Local Authority will contact any business that is eligible when available.
- You do not need to apply for this grant.
2) If I pay business rates:
- If you pay business rates and are within the retail, hospitality or leisure sector, operating in a smaller premises, with a rateable value between £15,000 and £51,000;
- There is a cash grant available of £25,000 to support your business.
- Any enquiries on eligibility for, or provision of, the reliefs and grants should be directed to the relevant local authority.
Clarification on what the retail, hospitality or leisure sector includes:
Properties that will benefit from the grant will be occupied hereditaments that are wholly or mainly being used:
- as shops, restaurants, cafes, drinking establishments, cinemas and live music venues,
- for assembly and leisure (including sports grounds, clubs, public halls and clubhouses); or
- as hotels, guest & boarding premises and self-catering accommodation.
The above is not an exhaustive list and Local Authorities are being asked to determine whether a premises falls within the above categories.
If you are unsure please feel free to give us a call on either 01604 678470 (Sywell) or 01933 312950 (Rushden) and we will be happy to assess your situation and advise accordingly.