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:
- The £10,000 grant is for any business in receipt of Small Business Rates Relief regardless of the nature of it;
- 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?
- All the information about business support can be found on the Leeds Council Coronavirus Business link: https://www.leeds.gov.uk/coronavirus/business.
- It has been updated today (Thu 26/3/20) and will be updated further this evening after expected announcements from the Chancellor on further support for the self-employed.
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