Financial advice for Bolton businesses

Financial Support during Covid-19

Covid-19

1. Business rates and grant support

Local Restrictions Support Grants

1. Financial Support for Businesses

We are currently processing all applications received for the following grants;

  • Restart Grants
  • Local Restrictions Support Grant (Closed)
  • Additional Restrictions Grants - this is currently being reviewed.

The team are working extremely hard to process and assess all applications as quickly as possible and are aiming to process applications within 28 days of receipt of a full application (including all supporting information). Eligibility for all grants will be assessed at the same time so you only need to apply once.

If you do not receive any communication after 28 days from the date you submitted your full application, please get back in touch with us by emailing businessbolton@bolton.gov.uk and we will look into your application further.


1. Restart Grants - 1 April 2021

The Government has announced the introduction of grant support for non-essential retail, hospitality, accommodation, leisure, personal care and gym businesses in England. This one-off grant is called Restart Grant and is available for businesses in these sectors with a current business rates account.

The following payment strands will apply:
 
Strand 1 (Non-essential retail businesses):

RV Band Amount
£15k & under  £2,667
Over £15k & below £51k  £4,000
£51k & over  £6,000

 
Strand 2 (Hospitality, Leisure, Accommodation, Personal Care & Gyms)

RV Band Amount
£15k & under  £8,000
Over £15k & below £51k  £12,000
£51k & over £18,000


The grant is for the business that according to the billing authority’s records was the ratepayer in respect of the hereditament on 1 April 2021.
 
The primary principle of the Restart Grant scheme is to support businesses that offer in-person services, where the main service and activity takes place in a fixed rate-paying premises, in the relevant sectors. 
 
Businesses must have been trading on 1 April 2021 to be eligible to receive funding under this scheme. Fully constituted businesses in liquidation, dissolved, struck off or subject to a striking-off notice are not eligible.
 
It is a requirement for this grant that all businesses are required to self-certify that they meet all eligibility criteria. The application closure date for this scheme is 30 June 2021 and final payments must be made by 31 July 2021.

Please click here to find out more information or to apply online.
 

2. Local restrictions grants (Closed Businesses)

This grant remains available for businesses required to close from 16 February 2021 onwards. The grant schemes prior to this date are now closed.
 
Any business caught falsifying their records to gain grant money will face prosecution and any funding issued will be subject to claw back.
 


3. Additional Restrictions Grant (ARG)

Bolton Council’s Additional Restrictions Grant scheme is for businesses required to close but who are not liable for business rates, or those that have not been legally forced to close but are nonetheless severely impacted by the restrictions.

Those businesses that have received a payment covering the period to 31 March 2021 will be emailed by 30 April 2021 with details of an additional (Phase 2) payment from 1 April 2021.

The scheme up to 31 March 2021 has been set up to support businesses in the worst affected sectors that have not been able access grant support up to now. More specifically this includes:

  • Businesses that have been required to close but aren’t eligible for closed grant because they don’t have a business rates account
  • Events/hospitality/leisure supply chain businesses, or businesses reliant upon these sectors for the majority of their business, with or without business rates accounts that haven’t been paid a closed grant
  • Retail businesses not required to close but can demonstrate a substantial loss of income as a result of restrictions
  • Childrens nurseries (providers on Ofsted’s early years register and wholly or mainly used for the provision of the early years foundation stage) that weren’t eligible for small business grant or discretionary grant
  • Childcare businesses providing before and after school care
  • Businesses that provide services (rather than goods) that are not required to close, but that can show they have been severely restricted by the COVID19 restrictions. This includes businesses which have as their main activity repair services. The business must not have been paid a grant already (excluding the original grants Retail/Small Business/Discretionary Grant) and must demonstrate substantial income loss and ongoing fixed business costs.

The payment amounts are a single payment based upon the amount similar businesses in the same sector are being estimated to receive from the open and closed grant schemes from 5 August to 31 March 2021.

ARG must not act as an income replacement scheme. Therefore only businesses that can demonstrate they have significant ongoing fixed business costs can be considered. Any business caught falsifying their records to gain grant money will face prosecution and any funding issued will be subject to claw back.

Find out more and apply here


2. Business Rates support

At the Budget on 3 March 2021, the Chancellor announced that the Government would provide additional business rates support for eligible retail, hospitality, leisure, and nursery businesses in England occupying a qualifying property.

• The Expanded Retail Discount (2020/21) will be extended for three months for eligible properties, at 100% relief, uncapped, for the period 1 April 2021 to 30 June 2021.

• From 1 July 2021 to 31 March 2022, the Expanded Retail Discount would apply at 66% relief for eligible properties in the scheme, with a cash cap of £2m for businesses that were required to close as at 5 January 2021, and up to £105,000 for business permitted to open at that date.

• The Nursery Discount (2020/21) would also be extended for three months, at 100%, uncapped, for the period 1 April 2021 to 30 June 2021.

• From 1 July 2021 to 31 March 2022 the Nursery Discount would apply at 66% relief for eligible properties, with a cash cap of £105,000.

If you are eligible for either relief in 2021/22 this will show on your latest bill. Please note, as per the Chancellor’s announcement, the 100% relief only applies for the first three months of the financial year. For the period 1 July 2021 to 31 March 2022 66% relief will be granted and an amended bill will be issued at that time.

If you do not wish to accept the discount for 2021/22 please email business.rates@bolton.gov.uk stating this and provide your business rates reference.


3. Other support announced by the Government

On Wednesday 3 March 2021, the Chancellor made a number of announcements in the budget designed to support jobs and livelihoods:

  • The Coronavirus Job Support Scheme extended to September 2021, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2500 until the end of June 2021.
  • Self Employment Income Support scheme extended to September 2021, with 600,000 more people who filed a tax return in 2019-20 now able to claim for the first time. Apply or find out more at www.gov.uk
  • An extension to the temporary cut in Stamp Duty Land Tax until September
  • £5 billion for new Restart Grants – £6,000 for Non-essential retail per premise and a one off cash grant of up to £18,000 for hospitality, accommodation, leisure, personal care and gym businesses in England. (Details to be confirmed)
  • A new UK-wide Recovery Loan Scheme to make available loans between £25,001 and £10 million, and asset and invoice finance between £1,000 and £10 million, to help businesses of all sizes through the next stage of recovery. Find out more at https://www.gov.uk/guidance/recovery-loan-scheme.
  • Extension to the VAT cut to 5% for hospitality, accommodation and attractions across the UK until the end of September, followed by a 12.5% rate for a further six months until 31 March 2022. Find out how to pay VAT payments deferred between 20 March and 30 June 2020. You can pay now or join the VAT deferral new payment scheme.
  • Six-month extension of the £20 per week Universal Credit consisting of a one-off payment of £500 to eligible Working Tax Credit claimants across the UK.
  • Extension of the Film & TV Production Restart scheme in the UK, with an additional £300 million to support theatres, museums and other cultural organisations in England through the Culture Recovery Fund. More at https://www.gov.uk/government/publications/film-tv-production-restart-scheme.
  • 750,000 eligible businesses in the retail, hospitality and leisure sectors in England will benefit from business rates relief. 100% for a further 3 months until end of June 2021 then two thirds for 9 months. (see details above)
  • Extension of the apprenticeship hiring incentive to September 2021 and an increase of payment to £3,000. www.gov.uk
  • £7 million for a new “flexi-job” apprenticeship programme, that will enable apprentices to work with a number of employers in one sector.
  • Additional £126 million for 40,000 more traineeships in England, funding high quality work placements and training for 16-24 year olds in 2021/22 academic year.
  • More than doubling the legal limit for single contactless payments, from £45 to £100
  • £300 million for major spectator sports, supporting clubs and governing bodies in England as fans begin to return to stadia.
  • Small and medium-sized employers in the UK will continue to be able to reclaim up to two weeks of eligible Statutory Sick Pay (SSP) costs per employee from the Government. Find out more and claim at https://www.gov.uk/government/news/sick-pay-from-day-one-for-those-affected-by-coronavirus.
  • To further support the cashflow of businesses, the government is extending the loss carry back rules worth up to £760,000 per company.
  • £100 million for a new Taxpayer Protection Taskforce to crack-down on COVID fraudsters who have exploited UK Government support schemes.
  • Extending £500 Test and Trace support payments in England until the summer.https://www.bolton.gov.uk
  • Around 130,000 small and medium sized businesses will be supported through the new Help to Grow scheme, which will provide the digital and management tools and training. Any small business can apply for a £5,000 grant to pay for Government-approved productivity software.https://helptogrow.campaign.gov.uk/

You can use the Government's coronavirus business support finder tool, which will help businesses and self-employed people to quickly and easily determine the financial support is available. https://www.gov.uk/business-coronavirus-support-finder