Further details have been released on the next round of recovery grants available for Scotland and Wales.
In Scotland, recipients under the Strategic Framework Business Fund (SFBF) can now receive a final four-week payment.
On April 19, 2021, recipients will also receive a combined final payment made up of a two weeks’ closure support and a one-off restart grant. For those businesses which qualify it means a combined pay out of up to £7,500 with hospitality and leisure businesses supported by payments of up to £19,500.
Businesses which have not yet claimed have until March 22 to do as, after which the fund will close to new applicants. The final four-week payment made on the same day, split as follows:
- £2,000 for businesses with a rateable value of up to £51,000
- £3,000 for businesses with a rateable value of £51,001 or above
This will then be followed up on 19 April 2021, with all SFBF recipients currently in receipt of support automatically receiving a combined final two-week supplement and a one-off restart grant as follows:
- Retailers in receipt of SFBF will be eligible for grants up to £7,500 dependent upon rateable value
o £7,000 for businesses with a rateable value of up to £51,000 (£6,000 + £1,000)
o £7,500 for businesses with a rateable value of £51,001 or above (£6,000 + £1,500)
- Hospitality and leisure businesses in receipt of SFBF will be eligible for grants up to £19,500 dependent upon rateable value
o £9,000 for businesses with a rateable value of £15,000 or under (£8,000 + £1,000)
o £13,000 for businesses with a rateable value of between £15,001 and £51,000 (£12,000 + £1,000)
o £19,500 for businesses with a rateable value of £51,001 or above (£18,000 + £1,500)
You can find additional details here.
In Wales, there will be two new business rate linked grants introduced.This additional support will help hospitality, tourism, leisure and non-essential retail businesses that pay business rates. It will be in addition to the Restrictions Business Fund.
There is a £4,000 extra grant for eligible businesses with a Rateable Value (RV) of £12,000 or less, or a £5,000 additional grant for eligible businesses with an RV between £12,001 and £500,000. The funding is available regardless of the number of employees.
Payment will also be automatic for any businesses that pay non-domestic rates and have already received a payment since the October lockdown kicked in firebreak in October and made by their Local Authority. Payments from the via the Restrictions Business Fund should start appearing in bank accounts this month. However, for businesses that have not registered with their local authority, the registration process will only be open until 5pm on 31 March 2021.
Until March 30, the Discretionary Fund remains open to new applicants in Local Authority areas yet to award their full allocation. Further details can be here.