In these unprecedented times, we have been receiving a high volume of calls from our clients asking for advice. As a result, we have put together a series of guides as a way to update everyone with the latest news and guidelines.

Please also refer to our News pages by following this link.

All information on this Summary will be regularly updated in line with Government advice as it is published.

We are trying to provide information to our clients as these new schemes are being announced and so we hope the below library will provide a good starting point. We shall endeavor to update these links as new detailed provisions emerge.

Sophie Howard FCA

Grants for Ambitious Technologies to build UK resilience following Coronavirus outbreak

There is government funding of £20 million available to businesses who develop new ways of working and help build the UK’s resilience to the long-term impact of coronavirus.

Grants of up to £50,000 will be available to technology and research focussed businesses to develop new ways of working that help to  build resilience in industries such as delivery services, food manufacturing, retail and transport, as well as support people at home in circumstances like those during the coronavirus outbreak.

This could include the following:

  • new technology allowing retailers to respond better to sudden spikes of consumer demand and improve deliveries across the UK
  • new services for families to connect with and remotely monitor their elderly or vulnerable relatives, giving people peace of mind that their loved ones are receiving the services they require such as food deliveries, doctors’ appointments and paying bills
  • creating education tools which seamlessly integrate the classroom with children at home, allowing teachers to remotely set tasks and support vulnerable children.

If you think your business would be eligible, please see the following link to make a new application.

https://www.apply-for-innovation-funding.service.gov.uk/covid19/overview.html?_ga=2.156269179.1357463797.1586182122-27815192.1577113352

Last Updated: 08 April 2020

Retail, Hospitality and Leisure Businesses

On 4 May additional funding was announced for those not covered by existing local authority grants so that more businesses are covered.  Please see the following link for more information:

https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme

For retail, hospitality and leisure businesses there have been various measures introduced: 

Business Rates Holiday    

This will be introduced for the 2020 to 2021 tax year. You are eligible if your business is based in England and your business is in this sector. There is no action needed by you as this will apply to your next council tax bill in April 2020.

There is a business rates calculator online that you can use to estate the business rate charge you are no longer expected to pay.  

Please see the following link:

 https://www.gov.uk/calculate-your-business-rates

Please note local authorities may be in the process of reissuing bills.

Cash grants

Please note the following:

  • Businesses with a property that has a rateable value of £15,000 and under will receive a grant of £10,000. 
  • Businesses with a property that has a rateable value of between £15,000 and £51,000 will receive a grant of £25,000. 
  • You do not need to do anything and your local authority will write to you if you are eligible, but any queries should be directed to your local authority 
  • Please follow this link to find your local authority: https://www.gov.uk/find-local-council

Several clients have queried if they will be eligible if they do not pay business rates because of small business rate relief.  They will be entitled to a grant of £10,000 to help with ongoing costs.

Please follow the below link for further information:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/876893/small-business-grant-fund-retail-guidance-vers-3.pdf

Last Updated: 06 May 2020