Grants & Financial Support
Below you will find information on:
Coronavirus Business Support Fund
The Business Grant Scheme closed to new applications at 5pm on 10 July 2020.
• If you made an application in the past 10 working days and have not yet heard the outcome, please be assured that this will be processed and we will contact you in due course. If we require further information to process your application, we will contact you and you must provide this by the date specified, otherwise we will consider you to have withdrawn your application;
• If you previously applied for a grant but we requested further information from you in order to assess your application, then you must provide this by 5pm on Friday 31st July, otherwise we will consider you to have withdrawn your application;
• If you previously applied for a grant but were considered ineligible, you may request an internal review of your case. Requests for an internal review received after 5pm on Friday July 31st will not be considered;
• If you previously applied for a grant but your application was dependant on the views of the Assessor (for example to determine if the premises should be included in the Non-Domestic Rates Valuation Roll), this may be delayed until the Assessor is able to make a site visit. In such cases, where possible, we will endeavour to process your application using other evidence;
• If you made an application prior to the past 10 working days and have not been advised of the outcome, you should contact us on [email protected];
2020 Retail Hospitality and Leisure Rates Reduction
In the financial year 2020-21, businesses which operate in the retail, hospitality or leisure sectors are entitled to a 100% exemption from the payment of rates. Qualification for this reduction is based on legislation enacted by the Scottish Government. The council has deducted this reduction from bills prior to their issue where we believe there is qualification. If you have not received this reduction and you believe that you should, please contact us by calling 01343 563456 or e-mailing [email protected].
This exemption is administered on the basis of legislation. It is entirely separate from the Business Grant scheme which the council has administered on behalf of the Scottish Government. Qualification for a business grant does not automatically translate into qualification for this exemption.
B&B Grant Fund
The B & B Fund Grant Application form in an editable PDF is now live on the Moray Council Website at this link http://www.moray.gov.uk/moray_standard/page_132517.html
Guidance can be found within the application form itself. All parts of the application form should be completed in full and emailed with supporting documents to [email protected]
This grant cannot be applied for if you are in receipt of other COVID-19 related business grant support. Please feel free to pass on this information to those who may benefit from it.
Newly Self Employed Hardship Fund
The Newly Self Employed Hardship Fund is a new support mechanism, funded by the Scottish Government, designed and administered by Scottish Local Authorities, to support the Newly Self-Employed who are not covered by already announced support packages.
In order to qualify for support (£2,000 Grant applicants need to have become self-employed since 6th April, 2019)
The editable PDF Application Form for the Newly Self Employed Hardship Fund is now LIVE and can be downloaded here http://www.moray.gov.uk/downloads/file132958.pdf (Full details of eligibility are contained in the application form).
Completed applications should then be emailed to [email protected] along with supporting documentation. Moray Council will make a grant payment on fully compliant submissions.
Eat Out to Help Out
The Eat Out to Help Out registration page is now live on GOV.UK allowing businesses to join the scheme announced last week by the Chancellor of the Exchequer.
Restaurants, bars, cafes and other establishments can use the Eat Out to Help Out Scheme to offer a discount to diners and encourage them to eat at your restaurant.
You can use the Eat Out to Help Out Scheme:
- all day, every Monday, Tuesday and Wednesday from 3 to 31 August 2020
- to offer a 50% discount, up to a maximum of £10 per person, to diners for food or non-alcoholic drinks to eat or drink in
- to claim the money back from the government
Further information for businesses, including how to register and make a claim is available online at GOV.UK- here is the link
Temporary VAT cuts for Hospitality & Tourism Businesses
Temporary VAT cut for food and non-alcoholic drinks
From 15 July 2020 to 12 January 2021, to support businesses and jobs in the hospitality sector, the reduced (5%) rate of VAT will apply to supplies of food and non-alcoholic drinks from restaurants, pubs, bars, cafés and similar premises across the UK. Further guidance on the scope of this relief will be published by HMRC in the coming days.
Temporary VAT cut for accommodation and attractions
From 15 July 2020 to 12 January 2021, to support businesses and jobs, the reduced (5%) rate of VAT will apply to supplies of accommodation and admission to attractions across the UK. Further guidance on the scope of this relief will be published by HMRC in the coming days
VAT & Income Tax Support
Please see the below information from the UK Government.
We will support businesses by deferring Valued Added Tax (VAT) payments for 3 months.
Income Tax payments due in July 2020 under the Self-Assessment system may be deferred until January 2021.
For VAT, the deferral will apply from 20 March 2020 until 30 June 2020.
All UK businesses are eligible.
How to access the scheme
This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.
Customers who normally pay by direct debit should cancel their direct debit with their bank if they are unable to pay. Please do so in sufficient time so that HMRC do not attempt to automatically collect on receipt of your VAT return.
For Income Tax Self-Assessment, payments due on the 31 July 2020 may be deferred until 31 January 2021.
You are eligible if you are due to pay your second self-assessment payment on account on 31 July. You do not need to be self-employed to be eligible for the deferment.
The deferment is optional. If you are still able to pay your second payment on account on 31 July you should do so.
How to access the scheme
This is an automatic offer with no applications required. No penalties or interest for late payment will be charged if you defer payment until January 2021.
HMRC have also scaled up their Time to Pay offer to all firms and individuals who are in temporary financial distress as a result of COVID-19 and have outstanding tax liabilities.
Scottish Government’s Business Support- Sources of Finance
The Scottish Government’s Business Support Sources of Funding webpage has further information on sources of finance such as:
- Coronavirus Business Interruption Loan Scheme (for SMEs)
- Coronavirus Large Business Interruption Loan Scheme
- Help for the self employed
- Creative Industries
Further advice and support available can be found on the Scottish Government’s Business Support website- https://findbusinesssupport.gov.scot/coronavirus-advice
UK Government Coronavirus Business Support Finder
The UK Government has launched an online portal that can help business find what support they are entitled to.
Here is the link- https://www.gov.uk/business-coronavirus-support-finder
Bounce Back Loan Scheme
This scheme is not available yet, but will launch on the 4th May 2020.
The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.
The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.
The scheme will be delivered through a network of accredited lenders.
You can apply for a loan if your business:
- is based in the UK
- has been negatively affected by coronavirus
- was not an ‘undertaking in difficulty’ on 31 December 2019
Who cannot apply
The following businesses are not eligible to apply:
- banks, insurers and reinsurers (but not insurance brokers)
- public-sector bodies
- state-funded primary and secondary schools
If you’re already claiming funding
You cannot apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS). (Please note this is a different scheme to the Coronavirus Small Business Support Grant)
If you’ve already received a loan of up to £50,000 under CBILS and would like to transfer it into the Bounce Back Loan scheme, you can arrange this with your lender until 4 November 2020.
How to apply
You cannot apply until the scheme is launched on 4th May 2020. More information about the scheme will be published shortly and we will forward this when it arrives.
Aid for private rental landlords – Support to protect tenants
A £5 million fund will offer interest-free loans to landlords whose tenants are having difficulty paying rent during the coronavirus (COVID-19) crisis.
The Private Rent Sector Landlord COVID-19 Loan Scheme will offer eligible landlords up to 100% of lost rental income for a single property.
It will support private-sector landlords who are not classified as businesses, have five or less properties to rent and have lost rental income due to tenants unable to pay rent as a result of the COVID-19 pandemic.