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What help you can claim?…
What help is out there?
Since the most recent lockdown started on the 5th January 2021, the Government has brought out several schemes to help businesses.
The three main grants are:
- Local Restrictions Support Grant (LRSG)
- Additional Restrictions Grant (ARG)
- Closed Business Lockdown Payment top-up grants
Local Restrictions Support Grant
The LRSG is for businesses which have been forced to close due to the lockdown, and are unable to work from the business premises.
This includes companies which normally operate as in-person, but are not having to provide a takeaway only service. This includes non-essential retail, hospitality and leisure firms.
The grants, which are provided by local councils, are based on the rateable business premises, and cover a 42-day qualifying period.
Businesses with a rateable value of £15,000 or under may be eligible for up to £1,334, businesses between £15,000 and £51,000 may claim up to £2,000, and businesses with a rateable value of over £51,000 could claim up to £3,000.
The deadline to apply for the first period is the 31st March 2021, and final payments must be made by the 30th April 2021.
Additional Restrictions Grant
The ARG scheme has been set up to provide funding for businesses which do not pay business rates and do not have to close but have been impacted by the lockdown.
These grants are paid through the local councils, and they can decide which businesses to support, and how much support to offer.
Closed Business Lockdown Payment top up grants
Closed retail, hospitality and leisure businesses in England may be eligible for a one-off payment based on the rateable business value.
Business with a rateable value of £15,000 or under could claim £4,000, businesses with a rateable value of between £15,000 and £51,000 could claim £6,000, and businesses with a rateable value of over £51,000 could claim £9,000.
These grants are also provided by the local councils, but guidance on eligibility has been set from the Chancellor, Rishi Sunak.
Kind regards Ilyas