Update – 4th May 2020
COVID-19
Update 4 May 2020
Top Up Grant
What is it?
An additional grant which is aimed at small businesses with ongoing fixed property-related costs. It is aimed at closing the support gap for businesses that don’t qualify for the existing business rates relief.
The Government has asked local authorities to prioritise:
- Businesses in shared spaces
- Regular market traders
- Small charity properties that would meet the criteria for Small Business Rates Relief
- Bed and breakfasts that pay council tax rather than business rate.
However, payments will be made at the local authority’s discretion.
Is this a grant or a loan?
It’s a grant and so not repayable.
How do I know if I am eligible?
You must
-Have less than 50 employees
-Have seen a significant drop of income due to Coronavirus restriction measures.
The allocation of funding will be at the discretion of local authorities.
How much can I get?
There are three levels of grant
£25,000
£10,000
Discretionary amounts under £10,000
When will it be available?
The government released details on the 2nd May and stated they will provide guidance to local authorities shortly. We will keep our eyes peeled and let you know.
How do I apply?
We do not know yet, but we expect it to be administered by your local authority like the Small Business Grant Fund and the Retail and Hospitality Fund.
Government Link https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme
For copies of our previous updates please e-mail either
Previous updates
18 March, 19 March, 21 March,
24 March, 26 March, 27 March,
6 April,9 April, 10 April,24 April, 28 April,
This article is written for the general interest of our clients and is not a substitute for consulting the relevant legislation or taking professional advice. The authors and the firm cannot accept any responsibility for loss arising from any person acting or refraining from acting on the basis of the material included herein.
