coronavirus tier 5 grant information

Corona Virus Tier 5 Restrictions Grants Update.

ℹ️ SELF EMPLOYED INCOME SUPPORT SCHEME (SEISS)

This scheme is continuing as before so if your business is adversely affected and you qualify under the eligibility rules you can apply for this.

We are now on the third grant, which is at 80% of average profits for a three month period of November, December and January, as calculated for the purposes of the first and second grants.

You do not have to have applied for the first and second grants in order to apply for the third grant, but you must meet the same eligibility criteria that applied for the first and second grants. Applications can be made up until 29 January 2021.

A fourth grant will be available later, probably in March, but I don’t yet know the details or eligibility criteria for this one. This will be announced later this month or next month I’d assume.

ℹ️ LOCAL RESTRICTIONS SUPPORT GRANT (LRSG)

The LRSG supports businesses which have been forced to close, or are severely affected by, the tiered regional lockdowns. It is administered by local authorities, not by HMRC.

Following the announcement yesterday impacting more areas, many more businesses will now be eligible.

There are two levels of support – one for businesses forced to close, and one for businesses which are still open but severely affected.

The LRSG is available to occupiers of premises who pay business rates as follows:

Properties with a rateable value of £15,000 or under, grants are £667 per 14 day period for closed businesses, £467 for open businesses

Properties with a rateable value of between £15,000-£51,000 grants are £1,000 per 14 day period for closed businesses, £700 for open businesses

Properties with a rateable value of £51k or over grants to be £1,500 per 14 day period for closed businesses, £1,050 for open businesses

ℹ️ ADDITIONAL RESTRICTIONS GRANT (ARG)

Discretionary grants of up to £1,500 may also be available from the local authority if:

Your business is required to close but you do not pay business rates;

If your business is not required to close, but has been severely affected, for example as a result of customer businesses being closed.

Applications for both the LRSG and ARG must be made to your local authority so dates of availability may vary – you will need to go to your local Council’s website to see how and when to apply.

Find out more here:

https://www.gov.uk/government/news/46-billion-in-new-lockdown-grants-to-support-businesses-and-protect-jobs?fbclid=IwAR1r61aeq5BaglU-MhiN9g_9N5y2UaIzvxTt8wwo0zNPX_biDcBxvujYqE8

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