We have now entered into the 3rd Lockdown and the Government has acknowledged the impact by announcing new Financial Aid via different schemes. The nature of this support to businesses is implemented in many different ways.
1. Additional Restrictions Grant (ARG)
This is a council-led grant to support closed businesses that don’t directly pay business rates as well as businesses that haven’t had to close but have been affected by the pandemic.
- Businesses that supply the retail, hospitality, and leisure sectors
- Businesses in the events sector
- Business required to close but which do not pay business rates
- In administration, insolvent or struck off
- Exceeded the permitted state aid threshold
How to apply – Find the website for your local council HERE.
2. Local Restrictions Support Grant (LRSG) –
Businesses that were open as usual, but were then required to close between 5 November and 2 December 2020 due to the national restrictions imposed by the government may be eligible for LRSG from their local council for each 28 day period under national restrictions.
- Based in England
- Occupies property on which you pay business rates and you are the ratepayer.
- You have been required to close your business because of the national restrictions from 5th November to 2nd December 2020.
- Been unable to provide its usual in-person customer services from its premises.
E.g. non-essential retail, personal care, sports facilities and hospitality businesses, also those who operate as an in-person venue, such as a restaurant but they forced to close and provide a takeaway only service.
Eligible businesses can get one grant for each non-domestic property.
- You can continue to operate because you don’t depend on providing direct in-person services from your premises.
- You’ve chosen to close but not required to do so under the national restrictions.
- In administration, insolvent or struck off exceeded the permitted state aid threshold
What you get
Grant based on the rateable value of the property on the first full day of restrictions
If your business has a property with a rateable value of £15,000 = £1,334 for each 28-day qualifying restrictions period.
£15k to £51k = £2k for each 28-day qualifying restrictions period.
£51k or above = £3k for each 28-day qualifying restrictions period.
How to apply – Find the website for your local council https://www.gov.uk/find-local-council
For more assistance on this matter contact Sterling Finance and we will be able to help. Our contact details are:
Sterling Finance UK Limited
Tel: 0161 339 4989