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03/05/2020

New Top Up Local Grant Scheme

The UK Government has announced an extension to the Local Grant Scheme. This is to cover those businesses that could not claim on the Business Rates Scheme, as they pay Council Tax.

At the moment it appears to cover small businesses like B&B’s and that Councils will have discretion as to who is eligible. There will be eligibility criteria.

This additional fund is aimed at small businesses with ongoing fixed property-related costs. We are asking local authorities to prioritise businesses in shared spaces, regular market traders, small charity properties that would meet the criteria for Small Business Rates Relief, and bed and breakfasts that pay council tax rather than business rates. But local authorities may choose to make payments to other businesses based on local economic need. The allocation of funding will be at the discretion of local authorities.

Businesses must be small, under 50 employees, and they must also be able to demonstrate that they have seen a significant drop of income due to Coronavirus restriction measures.

There will be three levels of grant payments. The maximum will be £25,000. There will also be grants of £10,000. Local authorities will have discretion to make payments of any amount under £10,000. It will be for councils to adapt this approach to local circumstances.

We await confirmation that the Scottish Government will replicate this scheme, and if it does, we will endeavour to ensure that the scheme covers self-catering businesses.

More information here https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme

 

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