With the COVID19 pandemic having affected many small businesses, the UK government is continually putting new assistance schemes in place.
We are experts who understand these schemes and can help and advise all rural and coastal businesses on understanding the various complexities of these schemes and any grant funding they may be eligible for.
Scroll down to see all current grant schemes. (This page is updated daily/weekly.)
Please email for any assistance. We are here to help! [email protected]
Extended – Job Retention scheme
The furlough scheme has been extended until the end of March 2021, with the government continuing to cover 80% of employees’ wages. Employers will only be required to cover national insurance and pension contributions for employees who have been furloughed under the extended Coronavirus Job Retention Scheme
additional restrictions grant
The Additional Restrictions Grant (ARG) provides local councils with grant funding to support closed businesses that do not directly pay business rates as well as businesses that do not have to close but which are impacted.
Local councils can determine which businesses to target and determine the amount of funding from the ARG.
Local councils have the freedom to determine the eligibility criteria for these grants. However, we expect the funding to help those businesses which – while not legally forced to close – are nonetheless severely impacted by the restrictions.
This could include:
- businesses which supply the retail, hospitality, and leisure sectors
- businesses in the events sector
- business required to close but which do not pay business rates
Businesses excluded from the fund
You cannot get funding if:
- your business is in administration, insolvent or has been struck off the Companies House register
- you have exceeded the permitted state aid threshold
You must notify your local council if your situation changes and you no longer meet the eligibility criteria. For example, you become insolvent.
How to apply
Visit your local council’s website to find out how to apply.
Self employed – Income support scheme
The employment support scheme for the self-employed is being made more generous and will be worth 80% of profits, instead of 40%.
The scheme has been extended. If you were not eligible for the first and second grant based on the information in your Self Assessment tax returns, you will not be eligible for the third.
HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits.
To make a claim for the third grant your business must have had a new or continuing impact from coronavirus between 1 November 2020 and 29 January 2021, which you reasonably believe will have a significant reduction in your profits.
The third taxable grant is worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.
The online service to claim the third grant is open. Please go to your HMRC login page.
You will need your:
- Self Assessment Unique Taxpayer Reference (UTR)
- National Insurance number
- Government Gateway user ID and password
- UK bank details including account number, sort code, name on the account and address linked to the account
Gap Grants – Teignbridge District Council
The Gap Grant Scheme is a specialist grant scheme designed to assist businesses facing severe financial difficulty due to cash-flow issues.
To be eligible, businesses must:
- Employ at least 10 employees on PAYE (businesses with fewer than 10 employees will be considered in exceptional circumstances)
- Be eligible for or already received either a Local Restrictions Support Grant or Additional Restrictions Grant
- Be able to evidence the business was not in financial distress prior to the COVID-19 outbreak
- Be able to evidence how much grant funding is required to cover their financial gap between the beginning and end of national/local restrictions
- Be able to explain why financial support cannot be obtained from an alternative source, like a bank for example
Businesses who meet the above criteria can email Teignbridge District Council to express their interest in the scheme.
Those who express an interest who appear to be eligible will be asked to fill out an application form and provide supporting evidence. Teignbridge District Council will seek external guidance to accredit all evidence which is submitted by the business.
The business must demonstrate a clear need for the grant and propose a grant amount which will cover the financial gap.
NEW – DISCRETIONARY BUSINESS GRANT
Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000.
See full details on our News & Funding page.
VAT reduction – EXTENDED
The UK government will cut VAT from 20% to 5% on any eat-in or hot takeaway food and drinks from restaurants, cafes and pubs, excluding alcohol. This has now been extended until 31st March 2021.
This VAT reduction also applies to all holiday accommodation in hotels, B&Bs, campsites and caravan sites, as well as attractions like cinemas, theme parks and zoos
Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc is sufficient to make a claim as long as all other terms and conditions are met.
Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Most businesses are unlikely to be covered, as standard business interruption insurance policies are dependent on damage to property and will exclude pandemics.
If you’re struggling to keep up with mortgage repayments due to coronavirus, or you’re coming to the end of a payment holiday and wondering what happens next, find out what your next steps may be.
- talk to your lender if you’re struggling to manage your finances
- if you can afford to repay your mortgage, even if it’s a smaller amount than usual, you should do so
- you shouldn’t cancel your direct debit without speaking to your lender first
- if you have general questions for your lender, check their website first to see if the answer is available online