On 11 March 2020 the Chancellor of the Exchequer announced in his budget that the government will provide a grant payment to small business. On 17 March 2020 his advice changed and is summarised below:
Scheme 1 – Business Support Grants Fund
The current proposal is that all properties in receipt of rural rate relief or small business rates relief will be eligible for a grant payment of £10,000.
Properties whose liability is calculated using the small business multiplier but not in receipt of small business rates relief will not qualify for this grant and neither will properties which are occupied for personal use, e.g. private stables, beach huts and moorings even if they are in receipt of relief.
Scheme 2 – Retail, Hospitality and Leisure Business Grants Fund
Announced by the Chancellor on the 17th March the current proposal is that properties who qualify for retail discount will be entitled to either:
- Rateable value of £15,000 or less will receive a grant payment of £10,000
- Rateable value or more than £15,000 but less than £51,000 will receive a grant payment of £25,000
This is a scheme devised and announced centrally by government and Fylde Council is awaiting the full eligibility criteria. We will update this page further when more information is released. We do not currently have a date for these grant payment being paid to eligible ratepayers.