Help for businesses
We want to make sure all Chopwell based businesses know about the government grants and support available to help them with the effects to their business of COVID-19. The key schemes that may be available to help our local businesses are:
- A grant of £10,000 to small businesses with a property with a rateable value of up to £15,000 who pay little or no business rates. Eligibility includes businesses who qualify for rural rate relief
- A grant of £25,000 for small businesses in the retail, hospitality and leisure sector with a property with a rateable value between £15,000 and £51,000.
- The much publicised ‘Job Retention Scheme’ which pays grants to companies who furlough staff.
- Interest free loans under the Bounce Back Loan Scheme and the Business Interruption Loan Scheme.
- Specific grants for businesses in certain industries including fishing and aquatics, travel, tourism and leisure.
- Rates relief for retail, leisure and hospitality businesses.
- Businesses who carry out research and development can apply for specific innovation grants.
- Protection from eviction of commercial premises for non-payment of rent for 3 months from 23 March.
- Time to pay arrangements for businesses so they can defer paying corporation tax, vat and payroll taxes.
- Statutory sick payments made to employees can be reclaimed from HMRC for up to 2 weeks sick pay per employee.
Self-employed or in partnership?
If you filed a personal tax return for 2018/19 and reported self-employed or partnership income of less than £50,000, then you may be able to claim a grant of up to £7,000 from HMRC.
To qualify your business must have been affected by COVID-19, either because you have been in isolation or ill, or because your business income has been affected. You must also be planning to resume trading when you can.
There is a checker to see if you qualify along with more information about how to claim on the government website. Claims can be submitted from 13 May.
The grant needs to be claimed and you must make the claim yourself. As it currently stands you will therefore need the following information to hand in order to make a claim:
- Self-Assessment UTR
- National Insurance number – if you do not have this find out how to get your lost National Insurance number
- Government Gateway user ID and password (We believe applying for a personal tax account should be sufficient for you to gain your Government Gateway ID and password. This can be done here https://www.gov.uk/personal-tax-account ).
- Bank account number and sort code you want the grant paid into (only provide bank account details where a Bacs payment can be accepted)
If you have any queries, contact HMRC.