Rates cash grant
We’ve sent various communications out about the rates cash grant, and a good number of you are receiving them now.
I recorded a video here talking about the grant, as a number of customers who can claim it, don’t think they can!
If you operate from business premises, and qualify for small business rate relief (under £15,000 rateable value), you can get a £10,000 cash grant which you don’t need to repay.
Feel free to share this info with anyone who you think needs to know it.
CBILS –coronavirus business interruption loan
The coronavirus business interruption loan scheme has taken a bit of a bashing in the media. However, we are hearing about some large claims (£500k) going through and being paid out at favourable rates (2.7%)
We are starting to work with a few customers to put in claims in the next few weeks. If you think you need cashflow support above what we’ve spoken about this week, drop me an email and I’ll arrange a call with you.
Summary of help
- CBILS loans
- Coronavirus job retention scheme (80% wage grants)
- Deferral of VAT payments due between March & June to 5th April 2021
- Deferral of 31st July payment on account for self-assessment tax payers to 31st January 2021
- 80% self-employed grant (hopefully this will be extended like the furlough extension)
- SSP will be paid for 14 days per employee by the government if they’re off with Covid-19
- Cash grants of £10,000 for businesses in premises with small business rate relief
- Cash grants of up to £25,000 for hospitality, leisure and retail businesses
- Rates holidays for hospitality, leisure and retail businesses up to a rateable value of £51,000