Business COVID grants

Throughout the COVID pandemic, the UK government has provided numerous options in terms of different business support grants. As we start to see a gradual return to normality, the government seem keen to continue to provide businesses in key sectors ongoing support to help them re-open safely and (hopefully) with success.

If you think you could be eligible for one of these grants, then find out more below:

Restart Grant

The Restart Grant scheme is to support businesses in the non-essential retail, hospitality, leisure, personal care and accommodation sectors. Grants are available from 1 April 2021, and the grant size available is determined by the business sectors.

Non-essential retail: Eligible businesses in this sector may be entitled to a one-off cash grant of up to £6,000 from their local council. The exact amount is determined by the rateable value.

  • £2,667 if your rateable value is £15,000 or under
  • £4,000 if your rateable value is between £15,000 and £51,000
  • £6,000 if your rateable value is more than £51,000

 Hospitality, Accommodation, Leisure, Personal care, and Gym: Eligible businesses in this sector may be entitled to a one-off cash grant of up to £18,000 from their local council. The exact amount is determined by the rateable value.

  • £8,000 if your rateable value is £15,000 or under
  • £12,000 if your rateable value is between £15,000 and £51,000
  • £18,000 if your rateable value is more than £51,000

 

Who is eligible?

Your business may be eligible for a Restart Grant if it is:

  • Based in England
  • Rate-paying
  • In the non-essential retail, hospitality, accommodation, leisure, personal care or gym sectors
  • Trading on 1 April 2021

You cannot get funding if your business:

  • Is in administration, insolvent or has been struck off the Companies House register
  • Has exceeded the permitted subsidy allowance (see below)

 

 

Additional Restrictions Grant – Round 5

The Additional Restrictions Grant (ARG) provides local councils with grant funding to support businesses that are severely impacted by restrictions, and that may or may not be in the business rates system. Local councils can determine which businesses to support and determine the amount of funding

 

Who is eligible?

Local councils have the freedom to determine the eligibility criteria for these grants. It is  expected that the funding will be given to businesses that have been severely impacted by the restrictions.

This could include:

  • Businesses which do not pay business rates
  • Businesses that have not received wider grant support
  • Businesses from all sectors that are severely impacted by restrictions

You cannot get funding if your business:

  • Is in administration, insolvent or has been struck off the Companies House register
  • You have exceeded the permitted subsidy allowance (see below).

 Also, you must notify your local council if your situation changes, and you no longer meet the eligibility criteria (e.g., if you become insolvent).

Subsidy Allowance

The Restart Grant and the Additional Restrictions scheme are covered by 3 subsidy allowances:

  • Small Amounts of Financial Assistance Allowance – you’re allowed up to £335,000 (subject to exchange rates) over any period of 3 years
  • COVID-19 Business Grant Allowance – you’re allowed up to £1,600,000
  • COVID-19 Business Grant Special Allowance – if you have reached your limits under the Small Amounts of Financial Assistance Allowance and COVID-19 Business Grant Allowance, you may be able to access a further allowance of funding under these scheme rules of up to £9,000,000, provided certain conditions are met

Grants under these 3 allowances can be combined for a potential total allowance of up to £10,935,000 (subject to exchange rates).

 

How to apply for one of these grants:

You apply for the grants via your local council. You can go to the GOV.UK website and enter your postcode to find out your local council’s website.

Apply through your local council here:

Deadline for applications is 30th June 2021. Any applications received after this date will not be processed.

 

If you have any questions or would like to speak to our team about your situation, then please get in touch! You can call on 01243 782 423 or head to our contact form!

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