Update on Financial Support For Businesses - Sevenoaks District Chamber of Commerce

Restrictions Support Grants by Local Authority

We are pleased to let you know, that the following Local Authorities have published their online applications for the Local Restrictions Support Grant (Closed Businesses) and their Additional Restrictions Grant (Discretionary):

Local Restrictions Support Grant (Closed Businesses)

Based on the rateable value of property
Grants between £1,334 & £3,000
Businesses that are eligible are those that have been mandated to close by Government and include non-essential retail, leisure, personal care, sports facilities, and hospitality businesses.

Sevenoaks can be found here.
Tunbridge Wells can be found here.
Tonbridge & Malling can be found here

Additional Restrictions Grant (Discretionary)

Local Authorities are developing discretionary grant schemes to help those businesses which –while not legally forced to close –are nonetheless severely impacted by the restrictions put in place to control the spread of Covid-19.
May not be dependent on occupying a rateable property.

Sevenoaks can be found here.
Tunbridge Wells can be found here.
Tonbridge & Malling can be found here.

Coronavirus Job Retention Scheme (Furlough)

Return of the previous scheme
80% of furloughed staff wages can be claimed
Claimed through HMRC payroll system
Open until March 2021 but may be modified

Self Employed Income Support Scheme (SEISS)

Grant payment to cover 1 st Nov to 31st Jan (3 months)
80% of average income for a three-month period, capped at £7,500 in total
HMRC will communicate with you
Open until March 2021 but may be modified

Bounce Back Loan “Top-up”

If you already have a Bounce Back Loan but borrowed less than you were entitled to, from 10 November you can top up your existing loan to your maximum amount. You must request the top-up by 31 January 2021.

For information or guidance on any of these schemes, one of our Advisers can help, call 03333 602 300 and arrange a callback.