The government have distributed £12.3 billion to local authorities so they can support businesses during the COVID-19 pandemic.
As of 19th April 2020, £6 billion had been paid out to 484,166 business properties.
The Small Business Grants Fund is a £10,000 grant per eligible business, originally announced at Budget. Businesses included in this scheme are those which on 11 March were eligible for relief under the Small Business Rate Relief Scheme (including those with a rateable value between £12,000 and £15,000 which receive tapered relief) or the Rural Rate Relief Scheme.
The Retail, Hospitality and Leisure Business Grants Fund was announced by the Chancellor on 17 March. Businesses in scope will be those that were eligible on 11 March for a discount under the Expanded Retail Discount scheme and with a rateable value of less than £51,000:
- eligible businesses in these sectors with a property that has a rateable value of up to and including £15,000 will receive a grant of £10,000
- eligible businesses with a property that has a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000
Grants will be provided in respect of each property (hereditament); therefore, businesses with multiple outlets would receive more than one grant and may receive grants from separate local authorities.
Businesses with multiple outlets can receive more than one grant and may receive grants from separate local authorities, if their different outlets are in different local authority areas. Only one grant can be paid per business premise.
Local authorities are contacting eligible businesses. It is important that businesses who have been contacted respond quickly and that any businesses who believe they are eligible check the arrangements in their area on their local authority website if they have yet to be contacted.