Discretionary Business Support Grants
8 June 2020 - The Business Secretary, Alok Sharma, on 1 May 2020 promised additional funding to local authorities in order to assist businesses who were not entitled to the £10,000 Small Business Grant or the £25,000 Retail, Hospitality & Leisure Grant. These grants were paid automatically in April to qualifying businesses who were paying business rates or were exempted from business rates as a result of the Small Business Rates Relief.
However, a lot of small businesses missed out as they were operating from serviced offices or were market traders, etc. and therefore not paying business rates. Additionally, bed & breakfast businesses did not qualify as they are required to pay council tax and not business rates. The discetionary fund is therefore designed to help these businesses who have not received any financial support. London Borough of Hounslow has received £1.8m from the Government and is opening up applications as from Monday 8 June 2020. Grants of either £5,000, £10,000 or £25,000 are up for grab on a first-come, first-served basis.
London Borough of Barnet is already accepting applications on their website for grants of £5,000, £7,500 or £10,000. London Borough of Ealing has yet to announce the details of their Discretionary Business Support Grant - Watch this space, we will provide an update as soon as we have news. DON'T MISS OUT - contact us on 020 8567 7733 if you need help in applying for any of the COVID-19 grants and funding.
Contact us on 020 8567 7733 if you need help with your application; we are working around the clock to help our clients in these difficult times and are available to ASSIST NEW CLIENTS without charge!
Other Support Available
1. Coronavirus Job Retention Scheme - enabling businesses to claim 80% of salaries from HMRC in respectr of any employees who have been "furloughed".
2. £10,000 grant for businesses who are entitled to the "Small Busines Rate Relief".
3. £25,000 grant for businesses in the retail, hospitality and leisure sector where the rateable value of their premises is between £15,000 and £51,000.
4. Business Rates Holiday for 2020/2021 for businesses in retail, hospitality and leisure sectors.
5. Business Rates Holiday for 2020/2021 for Nurseries.
6. Self-Employment Income Support Scheme
7. Bounce Back Loans - 100% Guarnteed by the Government
8. VAT Deferment - any VAT due between 20 March and 30 June 2020 can be deferred. However, VAT Returns should be filed on the normal due dates.
9. Second Income Tax payments on account for 2019/2020 due on 31 July 2020 can be defrred to 31 January 2021 without incurring fines or penalties.
10. Coronavirus Business Interruption Loan Scheme - enabling businesses facing cash flow issues to borrow up to £5m interest-free for the first 12 months.
11. Other schemes yet to be announced - Watch this Space!
DON'T DELAY - Conatct us today as we are working around the clock to make sure you do not lose out in claiming everything that you are entitled to. New announcements are being made on a daily basis. Don't Miss Out!!!
Please contact us on 020 8567 7733 or email us to find out how we can help.
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