Restrictions Business Fund Extension 25 January – end of March 2021

by | Jan 29, 2021 | Corona

Following the First Minister’s announcement, the Restrictions Business Fund Non-Domestic Rates (NDR) and Discretionary based grants for non-essential retail, hospitality, leisure and tourism (NERHLT) sectors has been extended to provide a single top up payment to cover the period between the 25 January and end of March 2021 for businesses affected by national restrictions.

Taken alongside the package for December and January, this will provide businesses with a minimum combined £6,000 – £10,000 grant before taking into account support via the ERF Sector Specific Fund, Jobs Support Scheme and the wider package.

Restrictions Business Fund Top up:

Businesses Eligible for the Extended Restrictions Business Fund will receive the following top up:

  • NERHLT businesses in receipt of Small Business Rate Relief (SBRR) and with a rateable value of £12,000 or less will be eligible for an additional £3,000 Supply chain businesses qualifying for SBRR will also be eligible for this support if they have greater than 40% reduction in turnover during the restriction period.
  • NERHLT businesses with a rateable value of between £12,001 and £51,000 will also be eligible for a £5,000 payment if impacted by the restrictions. Supply chain businesses in the same rateable value bracket will also be eligible for this support if they have greater than 40% reduction in turnover during the restriction period.
  • NERHLT businesses with a rateable value of between £51,001 and £500,000 will also be eligible for a £5,000 payment if impacted by the restrictions. Supply chain businesses in the same rateable value bracket will also be eligible for this support if they have greater than 40% reduction in turnover during the restriction period.
  • NERHLT businesses with a rateable value up to £150k who registered and received the ERF Restriction Fund Grant in December/January via their Local Authority will begin receiving payments into their bank account during February. These businesses will not be required to re-register their details.
  • If you are eligible for the payments and haven’t received the grant to date please register and you may also register for the previous period at the same time.
  • This extension will also provide support to retail, leisure and tourism business properties with rateable values of between £150k and £500k p.a. This will enable support to be provided to a cohort of medium sized firms that to date have not received support via the Restrictions Business Fund schemes. These businesses will be required to register their details, as well as making a short on-line application to their respective local authority.
  • Business will be able to access the registration and application process to access the funding through the Business Wales and Local Authority websites, links can be found on the Restrictions Business Fund – Local Authorities 
  • To support businesses who are not registered on the NDR register and with a turnover below £50k, a further £20m phase of the Local Discretionary Fund has also been approved and will provide a £2,000 grant via a second round application and payment. Businesses will need to submit an application to the fund.

Following this grant extension the total amount of financial support for eligible businesses through the Welsh Government’s Restrictions Business Fund alone for the period 4 December – end of March is as follows:

  • NERHLT businesses in receipt of Small Business Rate Relief (SBRR) and with a rateable value of £12,000 or less will be eligible for a £6,000 Supply chain businesses qualifying for SBRR will also be eligible for this support if they have greater than 40% reduction in turnover during the restriction period.
  • NERHLT businesses with a rateable value of between £12,001 and £51,000 will also be eligible for a £10,000 payment if impacted by the restrictions. Supply chain businesses in the same rateable value bracket will also be eligible for this support if they have greater than 40% reduction in turnover during the restriction period.
  • NERHLT businesses with a rateable value of between £51,001 and £150,000 will also be eligible for a £10,000 payment if impacted by the restrictions. Supply chain businesses in the same rateable value bracket will also be eligible for this support if they have greater than 40% reduction in turnover during the restriction period.
  • NERHLT businesses with rateable values of between £150,001 and £500k who were not able to apply for funding in December will be entitled to a £5,000 payment. These businesses will need to register their details through their local authority website.

 

How to access the Fund:

Non Domestic Rates paying Businesses

Businesses must be on the non-domestic rates (NDR) rating list for their local authority on 1 September 2020.

Businesses who received the Restrictions Business Grant in December via their Local Authority will begin receiving payments via the Restrictions Business Fund into their bank account during February. These businesses will not be required to re-register their details.

For all other eligible businesses to receive any of the Restrictions Business Fund, businesses will need to register their details. These payments will start to reach businesses in February as well.

Business will be able to access the registration and application process to access the funding through the Business Wales and Local Authority websites, links can be found on the Restrictions Business Fund – Local Authorities page.

Businesses not eligible for non-domestic rates will be able to continue to apply to local authorities for a Discretionary Grant of up to £2,000.

Local Discretionary Grant

  • To support businesses who are not registered on the NDR register and with a turnover below £50k, a further £20m phase of the Local Discretionary Fund has also been approved and will provide a £2,000 grant via a second round application and payment. Businesses will need to submit an application to access the fund.
  • This will provide support to sub VAT sole traders without a property who are materially impacted (>40% reduced turnover) as a result of the restrictions, e.g. cleaners providing services to the hospitality industry.
  • Application forms for the Local Discretionary Grant Discretionary Grant can be accessed by visiting the relevant local authority website. You will need to apply for both the original and top up grant and links can be found on the Restrictions Business Fund – Local Authorities page for current grant (due to close on the 5 February) with this top up round re opening to new and exiting applicants on WC 8 February.

You are not eligible for the Discretionary grant if:
•    You are eligible for, or have received a Non-Domestic Rate Grant from your Local Authority
•    If you have 50 or more employees
•    If the business generated less than 50% of your income, the business must be your main source of income.

Applications will be dealt with on a first come first served basis. This may lead to applications not being appraised after they have been submitted if the fund is fully committed.

Please get in touch if you require our assistance with your application or further clarification on any of the above.

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