Covid-19 Business Grants available for businesses required to close because of restrictions (updated 19/1/21)
Closed Businesses Lockdown Payment
Businesses required to close by government, including non-essential retail, leisure, personal care, sports facilities and hospitality businesses could be eligible for this payment. These one off grant payments will be issued to eligible businesses as follows:
- £4,000 for businesses with a rateable value of £15,000 or under.
- £6,000 for businesses with a rateable value between £15,000 and £51,000.
- £9,000 for businesses with a rateable value of over £51,000.
To apply for this grant, please complete an application form. Applications close on 31 March 2021 and final payments will be made by 30 April 2021.
Local Restriction Support Grant
Businesses required to close under national or local tier restrictions, or which have been severely impacted due to restrictions may be eligible for a Local Restriction Support Grant.
From 11 January applications for one-off top up grants and the Local Restriction Support Grant will be paid twice weekly.
Businesses required to close
- Eligible businesses appearing on the local rating list with a rateable value of £15,000 or under when local restrictions started will receive £1,334 if they were forced to close between 5 November and 2 December 2020 or £667 every 14 days if they are forced to close from 2 December 2020.
- Eligible businesses appearing on the local rating list with a rateable value over £15,000 and less than £51,000 when local restrictions started will receive £2,000 if they were forced to close between 5 November and 2 December 2020 or £1,000 every 14 days if they are forced to close from 2 December 2020.
- Eligible businesses appearing on the local rating list with a rateable value of £51,000 or over when local restrictions started will receive £3,000 if they were forced to close between 5 November and 2 December 2020 or £1,500 every 14 days if they are forced to close from 2 December 2020.
From 5 January 2021, payments to businesses will be paid on a full 42 day (six week) payment cycle. Applications close on 31 March 2021 and final payments will be made by 30 April 2021.
To apply for the grant, please complete an application form.
Affected businesses which remained open until 5 January 2021
- Eligible businesses appearing on the local rating list with a rateable value of £15,000 or under when local restrictions started will receive £467 every 14 days if they remained open from 2 December 2020.
- Eligible businesses appearing on the local rating list with a rateable value over £15,000 and less than £51,000 when local restrictions started will receive £700 if they remained open every 14 days from 2 December 2020.
- Eligible businesses appearing on the local rating list with a rateable value of £51,000 or over when local restrictions started will receive £1,050 if they remained open every 14 days from 2 December 2020.
To apply for the grant, please complete an application form.
Additional Restrictions Grant
A discretionary one-off payment through the Additional Restrictions Grant is also available to some businesses severely impacted, but not forced to close, by Covid-19.
To check whether you are eligible, please refer to our scheme before completing an application form.
Applications will be reviewed by an awards panel each Monday. If your application is successful, we will e-mail to confirm the amount of grant funding you will receive. This will be paid by BACS transfer to your bank account within 7 to 10 days of the panel’s decision.
Support for the self-employed
The Self-Employment Income Support Scheme has been extended until April 2021, in the form of two grants, each available for three month periods. Eligible self employed people will now receive a taxable grant, covering 1 November 2020 to 31 January 2021, calculated at 80 per cent of three months' average trading profits, paid out in a single instalment, capped at £7,500 in total.
Payments will also be made more quickly and applications for the first of these new grants are now open.
The second of these new grants will cover a three-month period from 1 February 2021 until 30 April 2021 and the level of this grant will be reviewed by government and confirmed in due course.
You will only be able to access this scheme through GOV.UK. If someone texts, calls or emails claiming to be from HMRC, saying that you can claim financial help or are owed a tax refund and asks you to click on a link or to give information such as your name, credit card or bank details, it is a scam.
Hardship relief
If your business does not qualify for financial support and is affected by COVID-19, we do have the discretion to give hardship relief. Please complete our application form.
What support is there for businesses affected by Covid-19? (Updated 21/12/2020)
Bounce Back Loan Scheme extended
The Bounce Back Loan Scheme has been extended, to help smaller businesses access finances more quickly. The scheme has been extended until 31 January 2021 and helps small and medium-sized businesses borrow between £2,000 and up to 25% of their turnover, with the maximum loan available at £50,000. Details on eligibility and how to apply can be found on GOV.UK.
Claim for wages through the Coronavirus Job Retention Scheme
The Coronavirus Job Retention Scheme, known as the furlough scheme, which was due to end on 31 October will now remain open until 30 April 2021. Under the scheme, eligible employees will receive 80% of their current salary for hours not worked, up to a maximum of £2,500.
Her Majesty's Revenue and Customs is administering the scheme and has published a step by step guide for employers.
The Job Support Scheme, which was due to replace the Coronavirus Job Retention Scheme, will now come into effect when the Coronavirus Job Retention Scheme ends.
Businesses support finder
The government's online platform can help businesses easily access the financial support they are eligible for during the Covid-19 pandemic. Businesses may be eligible for loans, tax relief and cash grants and by filling out a simple questionnaire, the business support finder will signpost business owners and the self-employed to relevant government financial support.
Business support from Coast to Capital’s Growth Hub
Coast to Capital Growth Hub advisers are available to businesses for initial telephone discussions and signposting for specialist financial advice. Businesses should contact the Coast to Capital Growth Hub via e-mail or visit their Business Support page. More information about their operational response can be found here.
Business Improvement Districts (BIDs)
Contact either the Caterham Business Improvement District (BID) and the Oxted Business Improvement District (BID) for additional information and support.