When the initial COVID -19 business rates grants were issued in March, they left many small businesses who don't pay rates with a problem. They had similar business property costs to those who qualified for small business rates relief, but couldn't claim anything to help them cover those costs
The Government stepped in last week and announced a further discretionary support package to those businesses who occupy shared offices or other flexible workspaces, where they don't receive a rates bill directly
Criteria for these grants.....
To qualify for a grant, the business must:
- have ongoing fixed property costs
- can demonstrate a significant fall in income due to COVID-19
- have fewer than 50 employees
- were trading on 11th March 2020
- are not eligible for the previous grants or the self employment grant scheme
Local Authorities will have the discretion to make grant payments of up to £10,000, provided the business meets the above criteria
Unlike the previous grant process, these grants are truly decided and administered by the local councils. as such, local councils are still working on their application process, which may take some time to be established. We also understand that they are waiting on more clarification from the Government (presumably on what they can say yes to and where the funding will come from)
Photo by Austin Distel on Unsplash
