Restart Grants are a one-off cash grant available from this month to hard-hit hospitality,
accommodation, leisure, personal care (ie hairdressers and beauty salons) and gym businesses in
England with premises that are trying to reopen and get back on their feet following the latest
lockdown.
The Restart Grant scheme replaces both the monthly Local Restrictions Support Grant and Local Restrictions Support Grant, which closed at the end of March. The scheme is scheduled to come to an end on June 21, 2021, when the government plans to lift all lockdown restrictions in England.
Additionally, in the scheme criteria published by Government, businesses should have been trading on April 1, 2021.
The Government has confirmed that even if your business re-opens as early as 12th April, you will still be eligible for a Restart Grant. The scheme reflects the impact of closures during lockdown, not the date that a business re-opens.
Eligible non-essential retail businesses can claim a grant of up to £6,000 per premises.
Businesses in the hospitality, accommodation, leisure, personal care, and fitness sectors may claim a grant of up to £18,000 per premises depending on their rateable value:
Grants do not need to be repaid, but they will be treated as profits and may be subject to tax.
If you believe that your small business is eligible to apply for the Restart Grant, visit your local council’s website for more information, as local authority’s have been given responsibility for distributing the grant funding.
If you are a self employed, business owner/director of company looking to get your accountancy and taxation matters sorted, look no further. We, at Naail & Co, are pro-active and easily accessible accountants and tax advisors, who will not only ensure that all your filing obligations are up to date with Companies House and HMRC, but also you do not pay a penny more in taxes than you have to. We work on a fixed fee basis and provide same day response to all your phone and email enquiries. We will also allocate a designated accounts manager who would have better understanding of your and business financial and taxation affairs. Book a free consultation call using the link below.
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