Healthy Living > Inform > Business Hub > Government legislation & local authority support for businesses
Blog Article | | | By Knights PLC | 23 July 2020 |
At Simplyhealth, we work with a variety of businesses, from small and medium sized enterprises, such as dental and veterinary practices, to large corporate partners. We understand the importance of keeping up to date with correct and relevant information and the value of guidance, support and advice. In collaboration with our legal partner, Knights PLC, we’ve put together a suite of business resources to help you through this challenging time.
To assist SMEs in ensuring they have enough liquidity to survive the current crisis, the Chancellor announced several measures to support small businesses and those operating in the hospitality and leisure sectors.
SMEs will have access to two principle grant funding schemes in the short-term whereby the government will reimburse local authorities that pay grants to eligible businesses:
Businesses in England in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief (RRR) in the business rates system will be eligible for a payment of £10,000.
Businesses in England in receipt of the Expanded Retail Discount (which covers retail, hospitality and leisure) with a rateable value of less than £51,000 will be eligible for the following cash grants per property:
i. Those that have a rateable value of up to £15,000 will receive a grant of £10,000 per property;
ii. Those with a rateable value of over £15,000 and less than £51,000 will receive a grant of £25,000 per property.
These grants will not be available for hereditaments occupied for personal use, car parks and parking spaces, or where the rateable value is over £51,000.
This principally covers business used as shops, restaurants, cafes, pubs, cinemas, music venues; hotels, guest and boarding houses, and self-catering accommodation.
Guidance for businesses has been provided on the GOV.uk website setting out details of the Small Business Grants Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF).
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