Grants Available to Business Required to Close.
The Council has received notification of financial support that we will be able to support local businesses through the difficult weeks ahead.
Businesses closed or seriously affected by the Lockdown measures from 5 November will be entitled to claim grants from the Council to help to compensate for their lost income over the 4 week period.
Businesses Forced to Close on 5th November can claim a Local Restriction Support Grant (Closed) as follows;
- Properties with a rateable value of £15k or under, grants of £1,334 per four weeks;
- Properties with a rateable value of over £15k and below £51k, grants of £2,000 per four weeks;
- Properties with a rateable value of £51k or over, grants of £3,000 per four weeks.
Other Businesses Severely Restricted will be able to apply for an Additional Restrictions Grant.
Businesses Forced to Close Since March (such as nightclubs) will be able to claim a Local Restriction Support Grant (Sector) of £3,000 per four weeks from 1 November.
The Council’s policy for the initial distribution of funds appears here. It initially covers the urgent need to support businesses that have been mandated to close from 5 November and will be updated in the coming weeks to support as many businesses as possible.
An on-line application is required and the form and instructions are available. Click here to access
Business Rates or National Non-Domestic Rates (NNDR)
Business Rates (also known as National Non-Domestic Rates) are a tax on business properties.
The tax is set by the government and business rates collected by local authorities are the way that those who occupy non-domestic property contribute towards the cost of local services.
Under the business rates retention arrangements introduced from 1 April 2013, authorities keep a proportion of the business rates paid locally.
The money is used to help pay for the services the Council provides.
Please see pages, listed on the left, within this section for further advice and guidance.