In light of the government guidelines, all our offices are now closed and our teams are all working remotely, but are on hand to help you through these challenging times.
Under the Retail and Hospitality Grant Scheme businesses can access cash grants of £25,000 for each property with a rateable value of £15,001-£51,000 and £10,000 for each property with a rateable value of £15,000 or lower.
Details of the properties that will benefit from the relief can be found here https://www.gov.uk/government/publications/guidance-to-employers-and-bus...
Small businesses which occupy premises and already receive small business rate relief or rural rate relief are eligible for a one-off grant of £10,000 to help meet their ongoing business costs. Scotland & Wales have announced similar grant schemes. The link for information on the Scottish Scheme can be found here: https://www.mygov.scot/non-domestic-rates-coronavirus/
Please contact your local authority to confirm if you are eligible for a grant.
12-month business rates holiday for all retail, hospitality and leisure businesses in England and Scotland for the 2020 to 2021 tax year.
Businesses may also be able to request Hardship Relief via their local authority.
Business rates holiday for retail, leisure and hospitality businesses: https://www.businesssupport.gov.uk/business-rates-holiday-for-retail-hos...
Business rates holiday for nurseries: https://www.businesssupport.gov.uk/business-rates-holiday-for-nurseries/
The Coronavirus Business Interruption Loan Scheme (CBILS) will provide UK businesses with annual turnover of no more than £45m a loan of up to £5m interest-free for 12 months under a British Business Bank (BBB) scheme, where the Government provides the lender with a guarantee for 80% of each loan (subject to a per-lender cap on claims) and covers the cost of the first 12 months of interest.
Access to CBILS is through 40 BBB accredited lenders and further details can be found here https://www.armstrongwatson.co.uk/services/covid-19-and-your-business/cbils-loans
Before applying, businesses are strongly advised to speak to their existing bank lender(s) and/or seek advice from our team if they wish to access CBILS.
Access to the scheme can be found here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/