Available Grants and Business Support – Summary

Table of Contents

Available Grants (Leeds & Bradford):

Coronavirus business support grants: national restrictions

The Coronavirus business support grants (national restrictions) aims to assist businesses that have been required to close due to the Government’s national lockdown restrictions from 5 November to 2 December 2020.

The amount you may be able to claim depends upon the rateable value of your premises. If you are eligible to make a claim, you may receive up to £3000 per business premise. Each premises will require a separate application. 

Find out more about the Coronavirus business support grants (national restrictions) grant here – Click Here  

Available Grant (Leeds):

Discretionary business support grant: fixed property costs

The Discretionary business support grant is designed to aid eligible businesses in Leeds pay their fixed property costs such as rent, mortgage payments, business rates and service charges. If your business is eligible, you may be able to claim up to 50% of your fixed property costs for the time period 1 October 2020 to 31 March 2021 (up to a maximum of £10,000).

You may qualify for a larger grant if you can prove that you’re expecting at least a 30% loss of business income compared to last year.

Find out more about the Discretionary business support grant here – Click Here

Updates on Other Grants and Business Support:

Coronavirus Job Retention Scheme (CJRS): Deadline Information

Claim deadlines:

  • Submit any claims for periods up to 31‌‌‌ ‌October on or before 30‌‌‌ ‌‌November – they will not be accepted after this date. Claims are subject to eligibility and the rules in force at the time.
  • Submit any claims for November, no later than 14‌‌‌ ‌December. You can claim before, during or after you process your payroll if your claim is submitted by the deadline.

For claim periods from 1‌‌ ‌December, employers cannot claim CJRS grants for any days that their employee is serving a contractual or statutory notice period, including notice of retirement or resignation.

VAT Deferral New Payment Scheme

Businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period. Instead of paying the full amount by the end of March 2021, businesses can make up to 11 smaller monthly payments, interest free.

All instalments must be paid by the end of March 2022. They will need to opt-in to the scheme, and for those who do, this means that their deferred VAT liabilities do not need to be paid by the end of March 2021.

The VAT Deferral New Payment Scheme will require a Direct Debit to be set up as part of the digital opt-in process and this must be done by the authorised bank account holder.

You can find further information on GOV.UK by searching ‘Pay VAT deferred due to coronavirus’.

Self-Employed Income Support Scheme (SEISS)

The third grant, which offers 80% of three months’ average trading profits, paid out in a single taxable instalment capped at £7,500, will be available covering the period from 1 November 2020 to 29 January 2021. Self-employed people who are eligible and in need of support will be able to claim the third grant at any time from 30 November 2020 to 29 January 2021. 

To make a claim for the third grant, you must meet several conditions, and make an honest assessment about whether you reasonably believe your trading profits will be significantly reduced due to coronavirus.  

As previously, the third grant will also be subject to Income Tax and self-employed National Insurance and must also be reported on 2020 to 2021 Self-Assessment tax returns.  

To find out if you’re eligible to make a claim, find out more – Click Here 

To make a claim – https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme

Further Support

We will continue to support our clients throughout these uncertain times. Additionally, if you have any queries that we can assist with, or if you require any further support with the grants available, please get in touch via 0113 257 4506.