NEW Local Authority Discretionary Grant (LADG) Now Available to all Small Business
A new form of discretionary grant is now available to support businesses which could not qualify for Small Business or Retail Leisure and Hospitality Grants.
From 22 June until 13 July 2020 we are inviting applications for our grants from small and micro businesses.
In order to be considered a business must;
- Have been trading from the premises on 11 March 2020
- Have significant fixed property costs (not exceeding £51,000 per year)
- Not have a rateable value exceeding £51,000
- Have suffered significant losses of income as a direct result of covid-19.
- Be a small or micro company, satisfying at least 2 out of the following 3 criteria;
- Employ less than 50 people
- Have an annual turnover not exceeding £10.2m
- Have balance sheet assets not exceeding £5.1m
You cannot access the grants if you have received a disqualifying grant or government support;
- Small Business Grant
- Retail, Hospitality and Leisure Grant
- The Fisheries Response Fund
- Domestic Seafood Supply Scheme (DSSS).
- The Zoos Support Fund
- The Dairy Hardship Fund
Awards will be determined from 13 July onwards according to the funding available at that time and will be assessed according to
- The nature of the business, with priority being given to the manufacturing and engineering sectors
- The number of employees (headcount)
- The level of property costs
- The level of income lost
Prior to 22 June applications could only be made by
- Occupiers of shared offices and spaces
- Market Traders
- Bed and Breakfast establishments, who do not pay business rates
- Charities which cannot be eligible for Small Business Rate Relief, or Grant
Where such business can demonstrate a significant loss of income due to covid-19, the council pay a grant of the lesser of £5,000 or 3 months’ property costs, including
- Commercial Mortgage interest payments
- Commercial Rent
- Unavoidable property based service charges
- Buildings and contents insurance in respect of commercial premises
Utility bills in respect of commercial premises.
Click here to view the Council’s full policy document (pdf download - 276kb).
Other forms of government support can be found on their website
Financial support for businesses and employers
The Business Rates Team has now made payments of grant to all qualifying businesses that are registered for Business Rates and have made valid applications.
We have a number of applications from organisations, that are not registered for business rates. We are in the process of contacting these organisations to clarify matters, to check that payments are valid and to obtain the details that we need.
A number of businesses that we believe will qualify for a grant of £10,000 or £25,000 have still not contacted us. If you have not already applied for the grant, you can do so here
Small and Rural Businesses
A grant of £10,000 is available to businesses with a rateable value of £15,000 or less who are currently in receipt of either small business rate relief or rural rate relief. These will be shown on your bill.
Retail, Hospitality and Leisure Businesses
If your property qualified for Retail Rate Relief on 11 March 2020, you will be entitled to a grant of
- £10,000 if your rateable value is £15,000 or less
- £25,000 if your rateable value is more than £15,000 and less than £51,000
This grant will also apply to Public Houses, Bingo Halls, Estate Agents and Letting Agents that have closed as result of Coronavirus.
To qualify, the premises must have been occupied and fit the qualifying criteria on 11 March
To be eligible for grant 1 per property you must;
- Fit the criteria stated above
- Be the person responsible for Business Rates on 11 March 2020
- NOT receive State Aid of more than 800,000 Euros in a 3 year period.
You will be asked to upload proof of your bank details, if you do not currently pay rates by direct debit.
Frequently asked questions
A list of the answers to the most frequently asked questions has been provided by the government to help business better understand the relief schemes. Click here to view that list.
Business Rate Relief
If you occupy a retail, hospitality or leisure business, we will be applying the 100% discount for 12 months automatically and will write to you shortly with a revised bill. You do not need to apply for it.
If we believe that you qualify, we will not be claiming your April Direct Debit payment.
Business Rate Payments
If you’re struggling to pay your business rates, please call us so that we can discuss alternative options with you on 01543 46 4282 or email email@example.com
This is what the government is doing to support businesses:
- If you or a member of your workforce are worried about being able to pay tax as a result of Coronavirus, call HMRC’s dedicated helpline on 0800 0159 559.
- Statutory Sick Pay will be available from day 1 rather than day 4 and if you employ less than 250 people, the cost of providing 14 days of Statutory Sick Pay per employee will be refunded in full by the government.
- If you manage a pub, club or a theatre and have an insurance policy that covers you for pandemics, you’ll be able to make a claim.
- The Coronavirus Business Interruption Loan Scheme will support lenders to offer loans up to £5m with no interest due for six months.
- If any of your employees have a zero-hours contract, please let them know they’ll be able to access Universal Credit and the new Employment Support Allowance.
Mortgage lenders will support customers who are experiencing financial difficulties by giving them mortgage holidays for up to 3 months.
If you’re eligible for any of the above discounts or grants, we will send you further information and a new business rates bill shortly. Any payments you make in the meantime will be deducted from your bill
Follow this link to see the latest package of measures announced by the Government