Covid-19: Business Grant & Financial Support Update

We have been working closely with Leeds Council Business Rates Team this week to give them as much assistance as we can to ensure their records are correct with regards to our Otley levy payers. This is to ensure that the below Business Grants which are about to be issued are mailed out to the correct businesses & their current addresses.

You are now able to fast-track receiving the Grant applicable to you, by providing your bank details to Leeds Council. Click the below link to complete the Application Form:

Fast-Track Grant Application

 

Please see below links with further information and detail of action you need to take to receive this financial support:

 

SUMMARY OF FINANCIAL SUPPORT FOR BUSINESSES

 

Business Grants

There are 2 Grant Schemes available:

  1. The £10,000 grant is for any business in receipt of Small Business Rates Relief regardless of the nature of it;
  2. The £25,000 is for those businesses in receipt of retail relief. The list of business types who qualify for this is expanding almost daily so please keep reviewing the link below for more information.

 

Where can I find the information?

 

What do I need to do?

Businesses who are entitled to cash grants to help manage the impact of the coronavirus (COVID-19) can now provide their bank details online, instead of waiting for a cheque to be posted to them.
Complete the Application Form HERE.

 

Job Retention Scheme – Update

The Treasury have today (27/3/20) updated their Coronavirus Job Retention Scheme guidance with specific reference to National Insurance and pension contributions for furloughed workers. Find out more at https://bit.ly/2wJrnJ9

 

Aid for the Self Employed

Rishi Sunak announced yesterday (27/3/20) the following benefits for the Self Employed:

  • The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits up to a cap of £2,500 per month.
  • Self-employment Income Support Scheme: bit.ly/SelfEmployedSupport
  • In addition, please see link to FAQs relating to the scheme, which can be found here https://bit.ly/SelfEmployedFAQs

 

Business Rates Holiday

There will be a business rates holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. Find more information here – https://www.leeds.gov.uk/coronavirus/business#all

 

Valued Added Tax (VAT) Payments

The government are deferring Valued Added Tax (VAT) payments for 3 months. It will apply from 20 March 2020 until 30 June 2020.

You do not need to apply for the deferral. Find out more about deferred tax payments.

 

Income Tax Payments

Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021.

This is an automatic offer with no applications required. No penalties or interest for late payment will be charged in the deferral period – https://www.leeds.gov.uk/coronavirus/business#all

 

Council Commercial Properties Rent Relief

Help & support can be found on the Leeds Council website here – https://www.leeds.gov.uk/coronavirus/business#all 

 

Queries

If you have any queries or problems regarding the above, please contact us at info@otleybid.co.uk.

Kind regards & stay safe

 

Tom Hatley

Chair of Otley Business Improvement District

 

4 thoughts on “Covid-19: Business Grant & Financial Support Update

  1. Rachelle,
    The Courthouse are supporting vulnerable under 60s. Did you mention that? Courthouse reckons there will be big demand from families with no income and need food bank support.

    • Hi Andrew, Please see below the information we have included regarding the Courthouse on this page on our website – https://www.otleybid.co.uk/covid-19-otley-open-for-business/. If you would like more or different information included please let me know. Kind regards Rachelle (Otley BID Champion).

      SUPPORT FOR OVER 60’s
      Otley Action for Older People is operating a telephone contact scheme for the over 60’s people in LS21. We are also helping people with shopping and collecting prescriptions. Anyone in need of support can ring 01943463965.
      For residents who are not online, please help them by advising that they can contact either Otley Action for Older People on 01943463965, or Otley Courthouse on 01943467466 to find out which businesses are offering assistance services.

  2. Hello

    I hope this email finds you well.

    I own Puffin Pottery in Otley and have used your fast track system to enter details for the government grant. Unfortunately as yet I haven’t received the grant yet? I have tried to get through to Leeds City Council (business rates) to find out when I hope to receive the grant and after waiting a few times for over an hour have not managed to get through. I have also sent an email last week and is not replied to? I understand they must be very busy but have you any other way I can contact them? Or a more direct email?

    Your help would be much appreciated

    Laura

    • Hi Laura,

      LCC are still working 7 days a week to get through all the applications and so far over 8,500 have been processed (85%). I understand that if you provided BACS details or they have your BACS details already on your account then these were processed first, and applications are currently taking 3 working days to process. However, not every application is straight forward and some are ineligible, so these are slowing the process down. They have committed to replying to all email queries in 10 working days or by 1st May whichever is sooner, and have asked businesses not to send more than one email as this will delay the process even more.

      How long ago did you enter your details onto the Fast track System?

      Kind regards
      Rachelle (Otley BID Champion)

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