The ‘Restart Grant’ for small businesses

Chichester accountants restart loan

Businesses across England can now apply for a Government Restart grant of up to £18,000 designed to help businesses that are in the non-essential retail, hospitality, accommodation, leisure, personal care or gym sectors that have had to close due to lockdown restrictions as a result of the Coronavirus pandemic.

This scheme will replace the Local Restrictions Support Grants which closed at the end of March 2021.

How much funding can I get?

The Restart Grants will be a one-off payment given out by local councils that businesses do not have to pay interest on or pay back. The size of grant you may be eligible for depends on two things:

  1. The type of business you have
  2. The rateable value of the business
You can find and check your business rates valuation online.

Non-essential retail businesses who are eligible for the scheme can get up to £6,000 per premises to help them reopen.

Those due to open later in hospitality, accommodation, leisure, personal care and gyms, can receive up to £18,000, depending on their rateable value as per our tables below.

The Restart grants are taxable and will need to be declared as income on business tax returns.

Who is eligible?

Your business may be eligible if it:

  • is based in England
  • is rate-paying
  • is in the non-essential retail, hospitality, accommodation, leisure, personal care or gym sectors
  • was required to close due to coronavirus restrictions for a minimum of 14 days.
  • was trading on 1 April 2021

Businesses excluded from the fund

You cannot get funding if your business:

  • is in administration, insolvent or has been struck off the Companies House register
  • has been able to continue operating throughout lockdown restrictions by generating an income from non-face-to-face activities such as a delivery or takeaway service or online sales.
  • has exceeded the permitted subsidy limit.
  • wasn’t told to close by the government and the decision to close was made by the business owner.
  • had to close due to coronavirus restrictions for less than 14 days.

How to apply for the Restart Grant?

Restart grants are to be administered by local councils, with the funding due to be in place from April onwards. Local councils will use their discretion to determine whether businesses meet the eligibility criteria for this grant scheme.

To apply for the restart grant scheme you must visit your local council’s website. We have included links below or alternatively you can go here to find your local council.

What if you’re not eligible for the Restart Grant?

It is worth looking into the Recovery Loan Scheme which opened on 6 April to help small, medium and large UK businesses and has replaced existing Coronavirus loan schemes such as the Bounce back loan.

Those who are self-employed may be eligible for the 4th and 5th SEISS Grants. There is also the option for self-employed individuals to defer their tax and VAT payments.

Alternatively you can go to your local council website and search “support for small businesses”.

If you need advice on any of the above, please get in touch with us and one of our team will be happy to assist.

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