COVID-19
Knowledgebase

Duncan & Toplis is here to help and support you through the ongoing challenges presented by the coronavirus pandemic. Whilst this is an anxious time for many, it’s important to know that there is help available.

We are summarising the measures, including eligibility requirements, as they are announced and all details can be found here in our COVID-19 Knowledgebase.

Coronavirus: Obtaining business grant funding

Businesses in England that are required to close due to local or national restrictions could be eligible for grant funding based on the rateable value of their properties.

Funding is available as follows:

›  Grants of £1,334 per month, or £667 per two weeks, is available for businesses with a rateable value of £15k or under

›  Grants of £2,000 per month, or £1,000 per two weeks, is available for businesses with a rateable value between £15k-£51k

  Grants of £3,000 per month, or £1,500 per two weeks, is available for businesses with a rateable value of £51k or above

It is expected that these grants will automatically be issued by local authorities as businesses in their district are impacted. Therefore, we recommend contacting your local authority if you have any questions about the issuing of these grants.

Not sure which council district your business sits in?

You can use the Government local council locator here

 


Previous update: April 2020

The UK Government has responded to the virus with a series of measures which are designed to support and sustain businesses and their employees through this difficult time. There are currently two grant schemes available, more detail for each can be found below.

Grant scheme for small businesses

The Government will provide additional funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR). This will provide a one-off grant of £10,000 to businesses to help meet their ongoing business costs.

Eligibility

Businesses that are currently eligible for SBRR or rural rate relief.

How to access

You do not need to do anything, other than to ensure that the local authority has the information required to make payments to you. Links to council forms can be found below.

The Retail and Hospitality Grant Scheme

This scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property.

Businesses in these sectors with a rateable value of:

  • under £15,000 will receive a grant of £10,000; or
  • between £15,001 and £51,000 will receive a grant of £25,000.

Eligibility

Businesses are eligible if they are based in England and is in the retail, hospitality and/or leisure sector. This includes property that are wholly or mainly used as shops, restaurants, cafes, drinking establishments, cinemas and live music venues. Those being used as hotels and boarding premises and self-catering accommodation.

How to access

Please ensure that your local authority has the required details to make payments to you. If not, we are seeing that local authorities are issuing forms to provide this information to ensure that swift payments are made. Links to council forms can be found below.

If the cash flow need is urgent, it would be advisable to contact your bank to see if a short-term arrangement can be reached until the funding is received.

 

Boston Borough Council
Charnwood Borough Council
City of Lincoln
East Lindsey
Newark & Sherwood
North Kesteven
North Lincolnshire
South Holland
South Kesteven
West Lindsey
Not sure which council district your business sits in?

You can use the Government local council locator here

 


Duncan & Toplis is here to support businesses and we hope we can provide clarity on these important changes as they are announced. For the very latest advice for your organisation, please contact our team.

 

You can find a full, regularly updated list of measures to support businesses throughout the coronavirus pandemic here


Duncan & Toplis

Duncan & Toplis was established in 1925 and has 11 offices throughout the East Midlands: in Boston, Grantham, Lincoln, Loughborough, Louth, Melton Mowbray, Newark, Skegness, Sleaford, Spalding and Stamford. The group offers accountancy, tax and business advice, audit and assurance services, HR, Payroll, wealth management, IT services, legal and probate services and provides business turnaround support to SMEs. The business has 413 employees, of whom 65 are currently engaged in professional training.