The Coronavirus Local Authority Discretionary Grants Fund
The Chancellor announced further government support to small businesses with fixed property costs, that are not eligible for the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant Fund.
The grant is designed to allow businesses to continue meeting their property-related overheads, so that in turn less strain is placed on landlords, who of course have their own commitments and obligations.
These businesses may now be eligible for a grant of £25,000, £10,000 or any amount under £10,000. Critically, grants will be awarded to eligible businesses on a first-come, first served basis until all the fund has been allocated. We encourage our clients who believe that they may be eligible to visit their local council’s website to find out how to apply. The local council will run an application process and decide whether to offer the grant.
ELIGIBILITY
You may be eligible if your business:
- is based in England
- has relatively high ongoing fixed property-related costs
- occupies property (or part of a property) with a rateable value or annual mortgage/rent payments below £51,000
- was trading on 11 March 2020
- did not claim under another government grant scheme, such as the Small Business Grant Fund or the Retail, Hospitality and Leisure Grant
Local councils have been asked to prioritise businesses such as:
- small businesses in shared offices or other flexible workspaces, such as units in industrial parks or incubators
- regular market traders
- bed and breakfasts paying council tax instead of business rates
- charity properties getting charitable business rates relief, which are not eligible for small business rates relief or rural rate relief
You will need to show that your business has suffered a significant fall in income due to coronavirus and you should contact our office if you require assistance putting together a claim.
We are doing everything we can to help our business community. If you would like to discuss how the changes or the coronavirus pandemic may affect you or your business, please do not hesitate to contact us on 020 8952 7717 or use our online enquiry form.