£10,000 for eligible businesses receiving qualifying rates reliefs
Under the Small Business Grants Fund, the Government has arranged for all businesses in receipt of the Small Business Rates Relief or the Rural Rates Relief to be eligible for a grant of £10,000.
Businesses eligible are those with a premises with a rateable value less than £15,000.
A separate fund, the Retail, Hospitality and Leisure Grant Fund has been made available by Government for all businesses in the sector with a rateable value of less than £51,000 to receive a cash grant of £25,000.
Charities which would otherwise have met the criteria but their rates have been reduced to £nil by a local discretionary award should still be considered eligible for the Retail, Hospitality and Leisure Grant.
Local authorities have now been given the funding with which to make the payments to businesses eligible.
The Government has stressed that payments of the grants should be made as quickly as possible to support struggling businesses.
If you have any questions on this or related matters please email your usual Alliotts partner or please contact us.
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