Covid-19 – Grants Available for Businesses in England

  • Posted

We are currently in the most unprecedented time of a generation, businesses in most sectors are struggling with the knock on effects of COVID-19, and with the situation changing on a daily basis we have tried to highlight some of the assistance available to businesses in England.

Firstly, the Small Business Grant is available to all businesses in England that are in receipt of Small Business Rate Relief or Rural Rate Relief as at 11th March 2020 in the business rate system. They will be eligible for a payment of £10,000 if they have a rateable value of £15,000 or less. Businesses occupied for personal uses such as stables, moorings, and car parks are excluded from this scheme.

The Retail, Hospitality and Leisure Grant is available to businesses in England that are in receipt of the Expanded Retail Discount with a rateable value of less than £51,000. Eligible businesses within the sectors with a property with a rateable value of up to and including £15,000 will receive a grant £10,000. Eligible businesses with a rateable value between £15,001 and less than £51,000 will receive a grant of £25,000. Businesses cannot receive the Retail, Leisure and Hospitality Grant if they have received the Small Business Grant. Some local councils have the relevant forms on their website which can be completed and submitted for the grants.

Further to the grants available; 12 months business rates relief was announced for all retail, leisure and hospitality businesses in England, it does not apply for “empty” buildings, however for businesses that have temporarily closed as per Government advice, they will be treated as occupied for the purposes of this relief.

Additionally, for businesses with a VAT payment due between 20th March and 30th June 2020, there is the option to defer the payment until later in 2020/21 or they can still pay the VAT as normal. VAT returns must still be made as normal in the appropriate quarter/month. Additionally, HMRC will continue to authorise refunds as normal, which should assist cashflow. It is important to note, the VAT payment is only deferred, it is not removed.

The Princes Countryside Fund are inviting applications for emergency funding of up to £2,500 for farming and rural community support groups who are providing assistance to counter the effects of isolation.

Agri Advisor are still fully operational during this time, and our team is able to work remotely, please contact Ellie Watkins on 07495 006808 if you would like any advice regarding what relieves and grants you might be eligible for.