CV19 business funding/assistance

elseven

Morning, I am having some issues with accessing various CV19 funds and wanted to see if anyone is having a similar experience.

I run a catering company in London, we provide food for photo/film shoots and offices etc. An application was made for a £25,000 grant, however I've been told due to having no retail element we do not qualify for this.

The Government help announced for the retail, hospitality and leisure businesses is;

a)  A 12 month Business Rate holiday for retail, hospitality, leisure and nursery sectors
b ) A small business rate grant of £10,000 for all businesses in receipt of small business rate relief, or rural relief
c ) Grant funding of £25,000 for retail, hospitality and leisure businesses with properties with a rateable value between £15,000 and £51,000.

We do not qualify for 'b' as we have a rateable value of £16,750.

We do not qualify for 'c' as we do not have a retail element, we supply food B2B.

On 2 May, the Government announced a 5% top-up to the funding for small business grants, given to councils in April. These ‘Top-up Grants’ are to support businesses that have experienced a significant drop in trade, with property-related costs and who are ineligible for other support.

The local authority, Waltham Forest has full discretion on how these funds are allocated and paid out. Details are here:

https://www.walthamforest.gov.uk/content/discretionarygrants

My questions really are:

a ) How come I've not been able to access this help. We are registered as "56210 - Event catering activities" on companies house. Surely this is hospitality?!

b ) Does anyone have any other suggestions on funds I'm able to apply to/access?

Thanks

justwhat

Make sense for "C" to apply , i would think you are hospitality. Contact your MP

justwhat

Also what is the building classed as?

daveyjp

Have you been refused discretionary?  If so what is the explanation? 

 The criteria for being successful are far more than just your business sector and the info you need to provide is extensive.

Jeremy535897

The local authority guidance on the RHL grant at:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/881040/business_support_grants-local_authorities_guidance.pdf
refers the applicant (see paragraph 24) to the expanded retail discount scheme at:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/877758/Expanded_Retail_Discount_Guidance_02.04.20.pdf
which has a much more detailed explanation of what hereditaments are treated as being eligible for the RHL grant. I don't think your premises fall within this, but I suggest you read through it, and also pursue the discretionary top-up grant option. You might fall within this:
"The Council has also prioritised ‘Small supplier businesses’, with rateable values higher than £15,000 and lower than £51,000 who predominantly provide goods and services directly to retail, leisure and hospitality businesses. Small supplier businesses must demonstrate at least 65% reduction in business, as a result of Covid-19."
but it is probably stretching it to say your company provides services directly to the leisure industry.

Jeremy535897

In terms of what else you might do, a bounce back loan might be the best option. Presumably you took advantage of the VAT deferral (you might claim a refund if you did not) and are using CJRS.

Galloglass

Just be aware that HMRC are now "consulting" on how to get the cash back that shouldn't have been given, loaned, granted etc. It will be in detail in Boris's bumper budget.

So if you can get it from somewhere else e.g. an investor, you may be better off than taking it from someone who can't send you straight to bankruptcy or have it out of your pension. 

https://www.gov.uk/if-you-dont-pay-your-tax-bill/debt-collection-agencies