Coronavirus financial support for businesses and individuals

Covid-19 has dramatically impacted all our lives. Since the beginning of the first lockdown the government has provided a series of financial support schemes to help businesses and individuals overcome loss of work and income.

Shooting and shooting related businesses have certainly not escaped the impact of Covid. As a result, BASC has provided a list of financial Covid support schemes for businesses and the self-employed. It is not exhaustive and BASC members are encouraged to make their own enquiries about what may be available in their area.

The economic development and business departments of local authorities, as well as accountants and financial advisors, will be able to provide more advice on individual situation.

Please note BASC is unable to advise or get involved in individual applications.

Last updated – 3 February 2021

Businesses can claim if they have:

  • created and started a PAYE payroll scheme on or before 30 October 2020
  • enrolled for PAYE online
  • a UK, Isle of Man or Channel Island bank account

Any entity with a UK payroll can apply, including businesses, charities, recruitment agencies and public authorities.  You can claim for employees (including foreign nationals) on any type of employment contract, including full-time, part-time, agency, flexible or zero-hour contracts. 

To find our more visit:
www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme#who-can-claim

JRS has been extended until the end of April 2021.

To be eligible you must be a self-employed individual or a member of a partnership. You cannot claim the grant if you trade through a limited company or a trust.

You must have traded in both tax years 2018/2019 (and submitted your Self Assessment tax return on or before 23 April 2020 for that year) and 2019/ 2020

You must either be currently trading but are impacted by reduced demand due to coronavirus or have been trading but are temporarily unable to do so due to coronavirus

You must also declare that you intend to continue to trade and that you reasonably believe there will be a significant reduction in your trading profits

The scheme has been extended. If you were not eligible for the first and second grant based on the information in your Self Assessment tax returns, you will not be eligible for the third.

To make a claim for the third grant your business must have had a new or continuing impact from coronavirus between 1 November 2020 and 29 January 2021, which you reasonably believe will have a significant reduction in your profits.

The third taxable grant is worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total.

The online service to claim the third grant is open. If you’re eligible, you must make your claim for the third grant on or before 29 January 2021.

www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

If you are a UK VAT registered business and had a VAT payment due between 20 March 2020 and 30 June 2020, you can defer payment until 31 March 2021.

To find out more visit:
www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19

If you cannot pay your tax bill on time because of coronavirus, you may be able to delay it without penalty using HMRC’s Time to Pay service.

You might be eligible if your UK business pays tax to the UK government and has outstanding tax liabilities

To find our more visit:
www.gov.uk/difficulties-paying-hmrc

You can reclaim Statutory Sick Pay you have paid for employees who are off sick, self-isolating or shielding because of coronavirus. This scheme will cover up to 2 weeks of SSP for every eligible employee.

You are eligible if both of the following apply to your business:

  • it’s based in the UK
  • it has had fewer than 250 employees since 28 February 2020

To find out more visit:
www.gov.uk/guidance/claim-back-statutory-sick-pay-paid-to-employees-due-to-coronavirus-covid-19

The scheme helps small and medium-sized businesses, and the self-employed, to access loans and other kinds of finance up to £5 million.

The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.

The scheme is open until 31 March 2021.

Your business must be UK based and have a turnover of £45 million or less per year to be eligible

  • would be considered viable by a lender, if not for the current pandemic
  • has been negatively affected by coronavirus

The scheme is open until 31 March 2021.

To find out more visit:
www.gov.uk/guidance/apply-for-the-coronavirus-business-interruption-loan-scheme

www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/

The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.

The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

The scheme is open to applications until 31 March 2021.

If you already have a Bounce Back Loan but borrowed less than you were entitled to, you can top up your existing loan to your maximum amount. You must request the top-up by 31 March 2021.

You’re eligible for this scheme if your business:

  • is based in the UK
  • was established before 1 March 2020
  • has been negatively affected by coronavirus

To find out more visit:
www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan

The Additional Restrictions Grant (ARG) provides local councils with discretionary grant funding to support closed businesses that do not directly pay business rates as well as businesses that do not have to close but which are impacted. In addition, larger grants can be given than those made through LRSG (Closed).

More information is available at:
www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-additional-restrictions-grant

These grants are administered by Local Authorities – their websites should provide details on how to apply as well as information on local priorities for support.

Businesses that were open as usual and were then required to close due to local Tier 2, Tier 3 or Tier 4 restrictions may be eligible for LRSG (Closed) or LRSG (Closed) Addendum: Tier 4.

Eligible businesses are entitled to a cash grant from their local council for each 14 day period they are closed.

You can apply for a grant if your business is either:

  • in an area of local Tier 2 or Tier 3 restrictions and has been required to close because of local restrictions that resulted in a first full day of closure on or after 9 September
  • in an area of local Tier 4 restrictions and has been required to close because of local restrictions that resulted in a first full day of closure on or after 19 December

You will need to show that your business:

  • is based in England
  • occupies property on which it pays business rates (and is the ratepayer)
  • has been required to close for at least 14 days because of the restrictions
  • has been unable to provide its usual in-person customer service from its premises

For more information:
www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-local-restrictions-support-grant-for-closed-businesses

These grants are administered by Local Authorities – their websites should provide details on how to apply.

Businesses that have not had to close but which have been severely impacted due to local Tier 2 or Tier 3 restrictions may be eligible for LRSG (Open).

Eligible businesses may be entitled to a cash grant from their local council for each 14 day period under local restrictions.

Local councils have the discretion to provide grant funding for businesses under this scheme. They will use their discretion in identifying the right businesses to receive this funding, based on their application process.

Your business may be eligible if it:

  • is based in England
  • is in an area subject to Tier 2 or Tier 3 local restrictions since 1 August 2020 and has been severely impacted because of the local restrictions
  • was established before the introduction of Tier 2 or Tier 3 restrictions
  • has not had to close but has been impacted by local restrictions

Local councils have the freedom to determine the precise eligibility criteria for these grants.

www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-local-restrictions-support-grant-for-open-businesses for more information or contact your Local Authority.

Hospitality, non-essential retail, tourism, leisure and supply chain businesses will be eligible for this £110 million fund. Applications will be dealt with on a first come first served basis.

You are not eligible for this grant if:

  • You are eligible for, or have received a Non-Domestic Rate Grant from your Local Authority
  • If you have 50 or more employees
  • If the business generated less than 50% of your income, the business must be your main source of income.

To find out more visit:
businesswales.gov.wales/coronavirus-advice/

This scheme is applicable to a business listed in the Health Protection (Coronavirus, Restrictions) (No.2) Regulations (Northern Ireland) 2020 as having to close, but which has not been eligible until now for financial support.

Eligibility criteria includes:

  • The business must have been trading before 16 October 2020 to be eligible
  • The income lost as a result of your business having to close or cease trading must be your main source of income, accounting for more than 50% of your income

For more information please click here:
https://www.nibusinessinfo.co.uk/business-support/covid-restrictions-business-support-scheme-part-ni-only

The Closed Businesses Lockdown Payment (CBLP) supports businesses that have been required to close due to the national restrictions that began on 5 January 2021.

Eligible businesses may be entitled to a one-off cash grant of up to £9,000 from their local council.

Your business may be eligible if it:

  • is based in England
  • occupies property on which it pays business rates (and is the ratepayer)
  • has been required to close because of the national restrictions from 5 January 2021 onwards
  • has been unable to provide its usual in-person customer service from its premises
  • This could include non-essential retail, leisure, personal care, sports facilities, tourism and hospitality businesses. It could also include businesses that operate primarily as an in-person venue, but which have been forced to close those services and provide a takeaway-only service instead.

For more information please click here