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COVID-19 Business Finance Support

Local Restrictions Business Support Grants – Updated: 24 February 2021

The government has announced further LRSG grants for businesses mandated to close between 16 February and 31 March 2021. Businesses which have received payments previously do not need to reapply and will be contacted this week, after which payments will be made as soon as possible.

If you have not previously applied for a grant and believe you meet the eligibility criteria, you should complete the LRSG form now.

The Government’s Support Package for January Lockdown includes further Local Restrictions Support Grant payments to businesses to cover a six week period in national lockdown and a one-off Closed Business Lockdown Payment. We will also be making payments to eligible businesses to cover the period spent under Tier 4 restrictions prior to national lockdown.

These grant payments will be directed to eligible rate-paying businesses legally required to close due to national restrictions including non-essential retail, leisure, personal care, sports facilities and hospitality businesses during the January Lockdown. Payments will be made automatically to eligible businesses which have already received Local Restrictions Support Grant payments – businesses will not have to reapply but we may contact you to confirm your continued eligibility.

  • If you have previously received a grant but are no longer eligible you must contact us immediately at businessgrants@redcar-cleveland.gov.uk (if for example you have ceased trading entirely, are no longer operating in an eligible sector or have reached State Aid limits)
  • If you have applied for a grant but not yet heard from us, please do not complete a further application form – we are processing your application and will make all payments you are eligible for as soon as possible
  • If you have not yet applied for a Local Restrictions Support Grant, please do so by visiting our Local Restrictions Support Grant (LRSG) page and complete the online application form – you must do this before 31 March to receive the Support Package for January Lockdown

Further information on the new grants schemes can be found here

 

The government has given us detailed guidance on which businesses are eligible for grants. We need to ask you for information about your business and the impact coronavirus restrictions have had on it to make sure we direct grants to the right businesses. These grants include:

Please use the links above for more information and to apply for the Local Restriction Support Grants and Additional Restrictions Grant.

Local authorities have discretion to distribute the ​Local Restrictions Support Grants to businesses in their area, in accordance with government guidance through four grant funding streams. Your business may be eligible for more than one grant if it has been impacted by more than one type of restriction. You can read Redcar and Cleveland’s policies on how grants will be distributed using the links below. These contains additional information on eligibility and restrictions and you should read them before you apply.​

LRSG Business Grants Policy

ARG Business Grants Policy

Payments

If your business is eligible for support we will make payments of the relevant grants into the bank account specified after making appropriate checks.

If we require further information or clarification, payments may take longer. We will contact you using the details given in the form if necessary.

If at any point your business ceases to be eligible for a grant, you must email us immediately at businessgrants@redcar-cleveland.gov.uk. The Government will not accept deliberate manipulation and fraud – any business caught falsifying their records to gain additional grant money will face prosecution and any funding issued will be subject to claw back. All payments will be subject to ongoing checks and verification.

These grants are different to the Small Business Grant, the Retail, Hospitality and Leisure Grant and the Local Authority Discretionary Grant Fund which were distributed in spring and summer  2020. Different businesses will be eligible for these grant schemes and different amounts will be paid. If you are not sure which grants you can apply to, please contact us at businessgrants@redcar-cleveland.gov.uk.

Coronavirus Job Retention Scheme (CJRS) – Extended until 31 March 2021

This Government scheme is available to support businesses who cannot maintain your workforce because your operations have been affected by coronavirus (COVID-19). Businesses can furlough employees and apply for a grant to cover a portion of their usual monthly wage costs where they record them as being on furlough.

For more information, please click here.

The government is extending the CJRS to support individuals and businesses who are impacted by disruption caused by coronavirus (COVID-19) this winter. The CJRS (also known as the furlough scheme) will remain open until 31 March 2021.

As a result of the CJRS being extended, the planned introduction of the Job Support Scheme (JSS) has been postponed until CJRS ends.

Government loan funding

Coronavirus Loan Schemes – Updated: 2 November 2020

The Government announced on Monday afternoon that the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS) – and the Future Fund will be extended to 31 January 2021.

It was also announced that eligible businesses will be able to ‘top up’ existing Bounce Back Loans should they need additional finance.

For more information on the changes, please click here

Coronavirus Business Interruption Loan Scheme (CBILS) – Deadline: 31 January 2021

The ‘Coronavirus Business Interruption Loan Scheme’ (CBILS) has been introduced to help small and medium-sized businesses affected by coronavirus (COVID-19) to access loans, overdrafts, invoice finance and asset finance of between £25,000 and £5 million for up to 6 years backed by an 80% guarantee to lenders from the Government. The scheme is delivered through commercial lenders, backed by the government-owned British Business Bank.

For more information and to apply, click here.

Coronavirus Large Business Interruption Loan Scheme (CLBILS) – Deadline: 31 January 2021

The Coronavirus Large Interruption Loan Scheme (CLBILS) provides finance to mid-sized and larger UK businesses with a group turnover of more than £45m (the upper limit for the existing smaller-business focused CBILS) that are suffering disruption to their cashflow due to lost or deferred revenues during the COVID-19 outbreak.

Companies from all sectors can apply for the Coronavirus Large Business Interruption Loan Scheme, however the following are not eligible:

  • Banks and building societies
  • Insurers and reinsurers (but not insurance brokers)
  • Public sector organisations (this includes primary and secondary schools)
  • Employer, professional, religious and political membership organisations
  • Trade unions

For more information and to apply, click here.

Business Bounce Back Loan (BBLS) – Deadline: 31 January 2021

This loan is designed  to help small and medium-sized businesses affected by coronavirus (COVID-19) to apply for loans of between £2,000 and £50,000 backed by a 100% Government guarantee to lenders and with no interest to pay for the first 12 months. 

You can apply for this loan if your business is:

  • is based in the UK
  • has been negatively affected by coronavirus
  • was not an ‘undertaking in difficulty’ on 31 December 2019

For further information, click here.

Future Fund – Deadline: 31 January 2021

The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.

Your business is eligible if:

  • it is UK-incorporated – if your business is part of a corporate group, only the parent company is eligible
  • it has raised at least £250,000 in equity investment from third-party investors in the last 5 years
  • none of its shares are traded on a regulated market, multilateral trading facility or other listing venue
  • it was incorporated on or before 31 December 2019
  • at least one of the following is true:
    • half or more employees are UK-based
    • half or more revenues are from UK sales

For more information, please click here. You can also check your eligibility for this fund by clicking here

Further support

Self-employment Income Support Scheme – Updated 5 November 2020

This Government scheme has been set-up to support those who are self-employed or a member of a partnership and have been adversely affected by COVID-19. Those eligible can claim a taxable grant based on a percentage of your average trading profits. 

This scheme has been extended and will last for 6 months, from November 2020 to April 2021. Grants will be paid in 2 lump sum instalments each covering a 3 month period.

The third grant will cover a 3 month period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant calculated at 80% of 3 months average monthly trading profits, paid out in a single instalment and capped at £7,500 in total. This is an increase from the previously announced amount of 55%.

The online service for the next grant will be available from 30 November 2020.

Self-employment Income Support Scheme online tool

HMRC have launched an online tool the public can use to find out if they’re eligible to make a claim through the Self-Employment Income Support Scheme.

The following are required to access the tool:

  • Self-Assessment Unique Taxpayer Reference (UTR) number
  • National Insurance number

To access the tool, please click here.

For more information and guidance on the Self-Employment Income Support Scheme, please click here.

Business rates relief

The Government has announced a Business Rates holiday in the tax year 2020-2021 for businesses in the Retail, Hospitality and Leisure sectors and for qualifying (children’s) Nursery businesses.  If you have any queries related to this please contact us on 01642 774774 or email businessrates@redcar-cleveland.gov.uk.

VAT reduced rate for hospitality and tourism – Extended

A cut in VAT that will be in place for six months, starting from 15 July 2020 and ending on 12 January 2021. *This has been extended to 31st March 2021

Businesses in these sectors can apply a reduced 5% rate of VAT to supplies of food and non-alcoholic drinks consumed on their premises, or hot takeaway food/non-alcoholic drink, and to holiday accommodation.

When it comes to hospitality, broadly speaking the reduced rate applies to businesses supplying sleeping accommodation in a hotel (or similar), charging fees for caravan pitches (and associated facilities), or charging fees for tent pitches and camping facilities.

You should check VAT Notice 709/1 or VAT Notice 709/3 if in any doubt about whether your business is included in the measure, or consult an accountant or other tax specialist.

VAT deferral New Payment Scheme

VAT-registered businesses were able to defer VAT due for the March – June 2020 period under existing coronavirus measures. Payment that were deferred was originally due by the end of March 2021.

Businesses can now choose to pay back that amount in 11 instalments across the 21/22 financial year.

Those who already made use of the VAT deferral can utilise this scheme.

For more information, please click here.

Business support finder

The Government have created an online tool to help you discover what support you and your business may be able to access during this time.

To access the support finder, please click here

Other Grant Funding

The National Lottery Community Fund

The National Lottery Community Fund are prioritising funding projects and organisations supporting communities through the COVID-19 pandemic.

The types of projects they will prioritise include:

  • organisations supporting people who are at high risk from COVID-19
  • organisations supporting communities most likely to face increased demand and challenges as a direct result of COVID-19
  • organisations which connect communities and support communities to work together to respond to COVID-19.

You can apply for funding under or over £10,000. 

For more information and to apply, please click here.

Government grant funding no longer available

Job Retention Bonus Scheme – POSTPONED
Job Support Scheme (JSS) – POSTPONED
Support for businesses in the cultural sector – CLOSED
Small Business and Retail, Hospitality and Leisure Grants – CLOSED
Local Authority Discretionary Grant Fund (LADGF) – CLOSED

Christmas support grant for wet-led pubsCLOSED

Tees Valley Combined Authority grant funding no longer available

Back to Business Fund: SMES – APPLICATION WINDOW SUSPENDED
Back to Business Fund: Visitor Economy – APPLICATION WINDOW SUSPENDED

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