in , , , ,

How do I get the government £3,000 coronavirus grant?

Retailers call for Chancellor to fix 'broken business rates system'


The government has offered £3,000 one-off coronavirus grant for business rate exempt premises

How do I get the government £3,000 coronavirus grant?

The government has announced small businesses that already pay little or no business rates will be eligible for a one-off coronavirus grant worth up to £3,000.

For a commercial property with a rateable value of £12,000, this is one quarter of its rateable value, or comparable to three months of rent.

>See also: How do I apply for a Coronavirus Business Interruption Loan?

Around 700,000 businesses in England currently eligible for Small Business Rate Relief (SBBR) or Rural Rate Relief can apply for the emergency funding.

The additional £2.2bn of funding for local authorities is part of a package of fiscal measures to help small business survive the coronavirus pandemic.

However, the £3,000 coronavirus grant only applies to small business in England. Business rates in Scotland, Wales and Northern Ireland are set by their devolved administrations.

This comes on top of the government announcing in the 11 March Budget that companies in the retail, leisure and hospitality sectors with a rateable value of less than £51,000 will not pay any business rates this year.

The discount that pubs receive on their business rates will increase from £1,000 to £5,000.

The government will also review the long-term future of business rates, a property tax which many say is unfair given the rise of online shopping and out-of-town retail parks.

This page will be continually updated as more information from government and local authorities becomes available.

Further reading on coronavirus

Coronavirus government statutory sick pay – how to apply for it

 

 



Source link

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

How do I apply for a Coronavirus Business Interruption Loan?

How do I apply for a Coronavirus Business Interruption Loan?

David

David Imonitie explains the role of a mentor in network marketing