To help smaller businesses affected by the COVID19 situation the government will provide two grants and further Business Rates support.
(Last updated 30.03.20)
£10,000 grant for all small businesses in England
Small businesses (up to 250 employees) across all sectors whose property/properties already benefit from Small Business Rates Relief (SBRR), Rural Rates Relief (RRR) and Tapered Relief (TR), will receive a grant of £10,000 per property for which they pay Business Rates.
£10,000 or £25,000 grant for Retail, Hospitality and Leisure Businesses in England
Businesses in the Retail, Hospitality and Leisure sectors whose property/properties have a rateable value of up to £15,000 (and do not benefit from SBRR, RRR or TR as above) will receive a grant of £10,000 per property for which they pay Business Rates. Those whose property/properties have a rateable value of between £15,000-£51,000 (and do not benefit from SBRR, RRR or TR as above) will receive a grant of £25,000 per property for which they pay Business Rates.
This is applicable where business premises are used as shops, restaurants, cafes, drinking establishments, cinemas and live music venues; those used for assembly and leisure; and hotels, guest & boarding premises and self-catering accommodation.
Only one of these grants will be provided for each applicable property.
Business Rates holiday in England for Retail, Hospitality and Leisure businesses
Businesses will pay no Business Rates in the 2020/21 period where their premises are used as shops, restaurants, cafes, drinking establishments, cinemas and live music venues; those used for assembly and leisure; and hotels, guest & boarding premises and self-catering accommodation.
This holiday will be applied automatically for the 2020/21 Council Tax period (April 2020 to March 2021) and there is no limit to rateable values. Local authorities may have to reissue bills automatically to exclude the business rate charge.
Accessing the support
Initial guidance from the government stated that local authorities will get in touch with all applicable businesses and process the grants. Whilst this should be the case, we advise that businesses get in touch now with their relevant authority (the authority/related body to which a business pays its Business Rates) and complete the applicable online forms or register their details as appropriate.
Timing of payments
The Business Rates Holiday will apply immediately and the grants will be paid as soon as the local authorities can process them. Our understanding is that some authorities have already begun to make payments whilst others have opened portals for businesses to register in advance of payments being made. At this stage it is unclear exactly when payments will be received by businesses but there seems to be a consensus of this being by mid-April (with the local authorities receiving their funding for the process 1 April).
The type of information you will or may be required to provide includes: Business Rates account reference, bank details to which the grant will be paid, company number, copy of bank statement or letter (upload), rateable value of the property, Unique Tax Reference (UTR) number (found on your Corporation Tax return),
Local authority links and information
Business Sheffield - fill in the online form now
- Information for Sheffield business on Covid-19
- Apply for a business support grant
- Get in touch now by email: businesssheffield@sheffield.gov.uk
Enterprising Barnsley - fill in the online form now
Rotherham (RIDO): - fill in the online form now
Doncaster Council: - register details now
Chesterfield Council: - fill in the form now and email
Bassetlaw Council: - fill in the online form now
Business Rates calculator:
Please do get in touch with your normal Shorts contact to talk things through, or one of our Covid-19 support coordinators (David Robinson, Scott Burkinshaw or Martin Dean).
Please be assured that we are ready to help.
Other related news:
- Help and support- our Covid-19 Hub
- Help for the Self-Employed
- Business Interruption Loan Scheme
- Professional fee protection - legal support helpline
- Our offices may be closed, but you can still contact us
- Statutory Sick Pay FAQs
- Job Retention scheme
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- Support and options for business right now
- Ready to stand together with our clients
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- Our services through Covid-19
Scott Burkinshaw
Scott is Tax Partner at Shorts, specialising in providing strategic corporate and personal tax advice.
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