Scottish Government’s £1 Billion Covid-19 Business Support Fund Opens
Scottish Government’s £1 Billion Covid-19 Business Support Fund Opens
Grants are being provided to a range of businesses in Scotland to help them cope with the impacts of the coronavirus.
Scotland’s businesses can now apply for grants to help them deal with the impact of the coronavirus (Covid-19) outbreak. The one-off grants are designed to help protect jobs, prevent business closures and promote economic recovery, and more than 90,000 ratepayers across Scotland will be able to benefit.
The grant support is additional to separate tax relief measures and is part of a package of measures worth £2.2 billion.
Two types of grant are now available to ratepayers:
A one-off £10,000 grant to ratepayers of small businesses in receipt of the Small Business Bonus Scheme (SBBS) or Rural Relief, or eligible for SBBS in receipt of Nursery Relief or Disabled Relief, and with rateable value up to £18,000.
A one-off grant of £25,000 available to retail, hospitality and leisure business ratepayers with a rateable value between £18,001 and £50,999.
The list is not exhaustive and if businesses think they may be eligible for one of these grants, they should contact their local authority. They are administering the scheme on behalf of the Scottish Government.
Extra reliefs to help with Covid-19
All non-domestic properties in Scotland will get a 1.6% rates relief. This relief effectively reverses the change in poundage for 2020-21. Businesses do not need to apply for this relief. It will be applied to their bill by the local council.
Retail, hospitality and leisure businesses
Retail, hospitality and leisure businesses will get 100% rates relief. To obtain this relief, a property has to be occupied. Properties that have closed temporarily due to the government’s Covid-19 advice will be treated as occupied.
The Scottish Government is working with Scotland’s 32 Councils to make sure this relief is administered in the most effective way.
Cabinet Secretary for Finance Kate Forbes said:
‘We are determined to help keep companies in business and support them and their staff during this difficult time.
‘Local authorities are the most efficient way to deliver this and we have worked closely with them to deliver these measures – and eligible businesses can apply now.
‘Local authorities will aim to make payments within 10 working days.’
These reliefs will be available to non-domestic properties from 1 April 2020 to 31 March 2021.
More information on how to apply can be found at:
https://www.mygov.scot/non-domestic-rates-coronavirus/