Torridge Business Rates Support Grants Announced
UPDATE 26th March: All Letters have now been sent - please be patient and wait for these to arrive in the post and if possible avoid telephoning while these are in transit as it will prevent the team progressing other work. We are aware that there are other outstanding queries and are doing our best to work through these during the current crisis so please bear with us. Many Thanks
In order to support Businesses through the Coronavirus (COVID-19) outbreak the Government has announced various measures to support businesses which Torridge Council will be administering.
Grant - £10k - Businesses in receipt of Small Business Relief (ratable value less than £15,000)
The Council has written to all businesses requesting they complete an online form so that the Council can obtain the necessary details to allow it to make payment of the £10k grant.
The grant is being funded by Central Government, and it is anticipated that Torridge will receive the funding in early April,at which point the grants payments can be processed. It is very important that Businesses are aware that scammers are operating and using the Covid-19 crisis to trick people into divulging such things as bank details. As a result businesses should only upload bank details on the link detailed within the letter and refuse any other requests by telephone, email or other means.
Please note that the letter requesting the provision of your details will go to the address held on record by the Council, this could be your personal OR business address.
Grant - £25k - Businesses within the Hospitality, Retail & Leisure sector with ratable value greater than £15,000 and less than £51,000
The Council has written to businesses that meet these criteria under the scheme. As above the submission of the required information will be via an on-line form detailed within the letter sent to your business.
Funding for these businesses is also anticipated in early April, and letters requesting the provision of your details will likewise go to the address held on record by the Council, which could be your business OR personal address.
Lead Member for the Economy - Councillor Bob Hicks said:
"While the money for these support packages is coming from central government we will make sure as a Council that they are distributed to businesses as smoothly and efficiently as possible. It's also an opportunity for us to publicly express our thanks and appreciation for the sacrifices businesses across Torridge have made in adhering to government advice, and temporarily closing or restricting their activities. This will hopefully make a significant contribution to stemming the spread of Covid-19 but we also acknowledge that this has been a difficult and worrying time for business owners that none of us are taking for granted."
Any business who doesn't receive a letter by the end of next week but who identify themselves as meeting the criteria should contact the Council's business rates section for guidance. However we would ask that businesses leave sufficient time for a letter to arrive before choosing this option.
The Government have also announced that Estate agents, lettings agencies and bingo halls will not have to pay any business rates this coming financial year 2020-21.
The accompanying downloadable flow chart illustrates the support process available to businesses for the grants.
25 March 2020