Grant funding for Business
Cash grants to support businesses during the COVID-19 crisis.
Grant Eligibility criteria
£10,000 Any business eligible for Small Business Rates Relief (SBRR) and Rural Rates Relief (RRR)
£10,000 A retail, hospitality and leisure business with a rateable value of up to £15,000
£25,000 A retail, hospitality and leisure business rateable value of over £15,000 and less than £51,000
£ nil Businesses with a rateable value of £51,000 or over are not eligible for this scheme
Hereditaments (premises) included in this scheme are those which on the 11 March 2020 were eligible for relief under the business rate Small Business Rate Relief Scheme (including those with a Rateable Value between £12,000 and £15,000 which receive tapered relief) or are eligible to the Expanded Retail Discount and have a rateable value of less than £51,000.
Only one grant may be awarded per hereditament.
Anti-fraud: any business caught falsifying their records to gain additional grant money will face prosecution and any funding issued will be subject to clawback.
Are these grants taxable?
The government have confirmed that these grants will be taxable as income. The business can then claim tax relief on the expenditure supported by the grant. Updated 27/04/20.
COVID-19: Grant funding for Business - Updated: 27 April 2020
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