Business rates grant funding
This blog post covers the help and support available for businesses that are registered for business rates. As well as the grants and rate holiday for nurseries, councils are considering time to pay arrangements for businesses that are struggling to pay their rates bills.
If you need any help please get in touch firstname.lastname@example.org or 01952 462693
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What is it?
These grants are for small businesses that have commercial premises and are designed to help towards the running costs of the business as a result of the impact of COVID-19. There are potentially one of two grants available: -
· The Small Business Grants Fund (SBGF)
· The Retail, Hospitality and Leisure Grant Fund (RHLGF)
Who is eligible?
Your business is based in England, it occupies property and you are receiving small business rates relief (rateable value of up to £15,000) or rural rate relief as of 11th March.
Your business must be based in England, in the retail, hospitality or leisure sector and have a rateable value of between £15,000 and 51,000.
How much will I receive?
Under the SBGF £10,000 and RHLGF £25,000.
How do I apply?
These grants are being administered by your local authority, they will be in touch if you are eligible.
When will I receive payment?
Unfortunately, this is dependant on individual local authorities, locally to us Telford and Wrekin and Shropshire Council have opened their portal and are taking applications. The links are below:
I have a buy to let property will I receive a grant?
Most buy to let properties are under council tax and business rates so will not qualify for this grant. There is an exception for short term holiday lets / Air Bnb arrangements and these properties that are registered for business rates and get small business rates relief should be eligible for the grant.
I rent my property on an all-inclusive rent / licence agreement will I qualify for the grant?
Unfortunately, no in this instance as you were not registered for business rates and small business rates relief on 11th March you will not receive the grant.
Do I qualify if I have more than one property?
Yes, if you have small business rates relief applied on your rates bill then you should qualify.
Support for nursery businesses that pay business rates
Children’s nurseries in England will receive a business rates holiday from 1st April 2020 to 31st March 2021.
To qualify for this, you have to be a business based in England that are on the Ofsted’s Early Years Register with business premises that are mainly used for the provision of Early Years Foundation Stage.
How do I apply?
This should be automatically done from your local authority