The Government has set out a package of targeted measures to support businesses through this period of disruption caused by COVID-19. We are working with partners to support local businesses and to ensure that we come through the Coronavirus pandemic, we have a dedicated business support team to help.
There are many schemes available to provide support, if you are unsure what COVID-19 support you are eligible for you can use the business support finder on the GOV.UK website.
Local Restrictions Support Grant (LRSG)
Government has announced a new grants for businesses who are impacted by the Local Restrictions put in place in response to the Pandemic. This includes the National Lockdown period and the Tiers in place before and after this.
In the budget on 3 March 2021 the chancellor announced that the existing local restrictions and lockdown grants would end from 31 March 2021, to be replaced by new Restart Grants payable from April 2021.
Therefore it is important that any business required to close by the restrictions put in place to help control the virus that has not applied for the Local Restriction Grant do so as soon as possible.
From 1 April 2021 we will not be able to accept new applications for grants relating to closure periods before 16 February 2021, and from 31 May 2021 we will not be able to accept applications for all closure periods from 16 February to 31 March 2021
You can find out more about the grant and make a claim using the link below.
Restart grant, to be available from April 2021, is a one off grant for businesses in the ratings list. This grant will support non-essential retail businesses with a one off grant of up to £6,000. Grant of up to £18,000 will also be available to support businesses within the following sectors -
- personal care
This scheme will replace the Local Restriction Support Grant (Addendum), Local Restrictions Support Grant (Closed), Local Restrictions Support Grant (Open) and Local Restrictions Support Grant (Sector).
The Council has now received the detailed guidance from the Government and work is underway to enable the Restart Grants to be paid from Tuesday 6 April 2021.
For those businesses that were eligible for existing local restrictions and lockdown top up grants we will re-assess the information provided in your existing applications to determine what level of Restart Grant you are eligible to receive.
Wherever possible these payments will be made automatically without the need for a further application form to be completed. However the Government requires additional business information for Restart Grants to be paid, therefore where we cannot obtain this information ourselves we will contact you or your business to request the additional information.
We will not be able to make a grant payment until the required information is received. In some cases we may ask you to complete a further online application form via our website.
Businesses that have not previously applied for existing Local Restrictions and Lockdown Grants will also be able to apply using the form on our Website.
Additional Restrictions Grant
Local Authorities are also being given funding, additional to the business rates grants above, to implement an Additional Restrictions Grant (ARG). These are discretionary grants that can be paid to businesses forced to close which do not have a business rates account and are therefore ineligible for the LRSG or those businesses that are not required to close but have been severely impacted.
You can find out more about the grant and make an application using the link below.
Job Retention Scheme
The Coronavirus Job Retention Scheme has now been extended to the end of September 2021. Find out if your business is eligible and how much you can claim to cover wages for employees on temporary leave or furlough due to COVID-19 using the link below.
Self-Employment Income Support Scheme
This scheme provides grants for those experiencing reduced demand due to COVID-19 but are continuing to trade, or temporarily cannot trade. Find out more using the link below.
Recovery Loan scheme - opens 6 April
The new loan scheme will replace the existing Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLs) which end on 31 March. It will enable businesses of all sizes to access term loans, overdrafts, invoice finance and asset finance up to £10 million with the government providing an 80% guarantee to the accredited lenders.
Business Bounce Back Loan - ending 31 March
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. You can find out more by visiting the GOV.UK website.
Coronavirus Business Interruption Loan Schemes (CBILS and CLBILS)
These schemes support businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years. Use the links below to find out more.
Business Rate Holiday and Relief
Retail, leisure & hospitality businesses will pay no business rates for first three months of the 2021/22 financial year (April to June)
After the rate-free three months, rates will be discounted by two-thirds (66%) for remaining nine months of financial year (July to March)
Statutory sick pay
You can get £95.85 per week Statutory Sick Pay (SSP) if you’re too ill to work. It is paid by your employer for up to 28 weeks. You can find out more using the link below.
The 5% reduced rate of VAT will be extended until the end of September for the tourism & hospitality sector. A tapered increase to 12.5% will apply for the second half of the financial year (October to March)
VAT rates will return to normal from 1st April 2022
VAT Deferral New Payment Scheme
Any business that took advantage of the original VAT deferral scheme can now opt to use the VAT Deferral “New Payment Scheme” to pay that deferred VAT in up to eleven equal payments from March 2021, rather than one larger payment due by 31 March 2021
Defer your self-assessment payment
Check what you need to do after 31 July 2020 if you chose to defer your second payment on account for the 2019 to 2020 tax year by using the link below.
Support for exporters
Help is available from UK Export Finance (UKEF) for businesses facing disruption due to coronavirus (COVID-19) through an existing range of tried and tested products.
A range of EU funded local support including small match funded/consultancy grants. Find out more using the link below.
If you need further advice or support you can contact a business advisor by -
- telephoning 01482 300 301
- emailing firstname.lastname@example.org