Is your business about to re open?
Are you a rate payer in England?
Do you operate in any of these fields?
- non essential retail
- personal care
- indoor gym
Restart grants are being offered on a discretionary basis by the local councils to help businesses who have been shut in two specific areas – non essential retail and hospitality, leisure, accommodation, personal care and gyms (NOTE: for this one you have to be a rate payer). Grants are meant to be available from 1st April 2021.
Local councils will use their discretion to determine whether businesses meet the eligibility criteria for this grant scheme.
Eligible businesses will be paid:
- a one-off grant of up to £6,000 in the non-essential retail sector
- a one-off grant of up to £18,000 in the hospitality, accommodation, leisure, personal care and gym sectors
There are other exclusions, such as if you’ve had about a million pounds worth of grants already and we don’t think any of our clients fall into this category, but here’s the info if you want to check:
“You cannot get funding if your business:
- is in administration, insolvent or has been struck off the Companies House register
- has exceeded the permitted subsidy allowance
You must notify your local council if your situation changes and you no longer meet the eligibility criteria.
This scheme is covered by 3 subsidy allowances:
- Small Amounts of Financial Assistance Allowance – you’re allowed up to £335,000 (subject to exchange rates) over any period of 3 years
- COVID-19 Business Grant Allowance – you’re allowed up to £1,600,000
- COVID-19 Business Grant Special Allowance – if you have reached your limits under the Small Amounts of Financial Assistance Allowance and COVID-19 Business Grant Allowance, you may be able to access a further allowance of funding under these scheme rules of up to £9,000,000, provided certain conditions are met
Grants under these 3 allowances can be combined for a potential total allowance of up to £10,935,000 (subject to exchange rates).”
So providing this does not apply to you – who has had THAT much??? – please contact your local authority and see if you can be awarded this grant!
Here’s how the grants will be allocated apparently
|Strand 1 (non-essential retail)||£15k or less||£2,667|
|£15,001 to £50,099||£4,000|
|£51k and above||£6,000|
|Strand 2 (other sectors)||£15k or less||£8,000|
|£15,001 to £50,099||£12,000|
|£51k and above||£18,000|
Let us know if you get your hands on one!
Of course, email David@theaccountancypractice.com or ring us on 01763 257882 if you’ve got any questions.
If you are based in the North Herts area, this is the link to apply for a Restart grant
If you are based elsewhere in the UK please check your local council, the one that might have given you the other grants.
If you’re not sure which council you are under, please use this link using your postcode
this is expected to be the last grant which is offered in relation to Covid.