The Government has issued details of the grants to be made available to support small and micro businesses with fixed property costs not eligible for other grant schemes.
Grants will be made of any amount up to and including £10,000, or £25,000. The grants do not have to be repaid but are classed as taxable income.
To be eligible a business must:
- be based in England
- have fewer than 50 employees
- have fixed building costs such as rent
- have been trading on 11th March 2020
- have been adversely impacted by the coronavirus
Councils have been asked to prioritise:
- 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
A business cannot apply if it:
- pays business rates
- is in administration, insolvent or has received a striking-off notice
- is already receiving support under another government grant scheme (such as Small Business Grant Fund or Retail, Hospitality and Leisure Grant)
Applications should be made to the local council who will run the process and decide if a grant is to be offered. As the grants are considered state aid, applicants will need to confirm they have not exceeded the relevant threshold.
More details on the grant scheme can be found here.