Have you applied for the discretionary grant through Stockport Council ?

Stockport Council announces criteria for applicants of PHASE 4 for Local Authority Discretionary Grant Scheme

Stockport Council has reviewed the remaining funds available for the Discretionary Grant Scheme following the third phase of applications to the scheme.  As there continue to be funds available, a fourth phase of applications to the scheme is being offered to businesses that meet the eligibility criteria set out in the guidance.    

Eligible businesses that meet the criteria for phases one, two and three, which missed the application deadline for these phases, can make an application in phase four.   

The deadline for submitting applications in phase four of the scheme is midnight on Friday 07/08/2020. The Council is processing applications in phase four on a first come, first served basis, and reserves the right to close the phase four of applications early if the funds are exhausted before the application deadline. Should the funds be exhausted during the phase then applications will not be processed beyond that point so making an application will not guarantee that you receive a grant.

Businesses eligible to apply for a grant for support with their monthly fixed property costs in phase 4 are required to be:

  • Stockport based small and micro businesses, as defined in Section 33 Part 2 of the Small Business, Enterprise and Employment Act 2015 and the Companies Act 2006
  • businesses with relatively high ongoing fixed property-related costs, not based at home, of at least £250 per month
  • businesses which can demonstrate that they’ve suffered a significant fall in income due to the coronavirus outbreak
  • businesses which occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000, or £150,000 if they are hospitality or leisure businesses.

Grants awarded to businesses eligible under the above criteria will be assessed against the total evidenced fixed property costs incurred by the business during March – June 2020. Based on this information, grant awards will be either £2,500, £5,000, £7,500, £10,000 or £25,000.

In phase 4 there is also an opportunity to apply for a fixed grant of £2,000 for registered businesses based in Stockport that meet either of the following criteria:

  • home based or self-employed that have not had access to any other financial support linked to Covid-19, that have had a reduction in income due to Covid-19
  • fixed property costs below the £250 per month de minimis level set for earlier phases of the discretionary grant scheme and have not had access to any other financial support linked to Covid-19, that have had a reduction in income due to Covid-19.

Applicants for the fixed grant of £2,000 must complete a declaration to say that their income has been reduced as a result of the impact of Covid-19 and provide bank statements supporting this – more information on this is in the guidance.  

Due to this scheme being provided on a first come, first served basis, applicants who do not provide the required supporting evidence with their application may have their application rejected. please make sure you read the guidance before applying and include everything that is asked for.

Further information and support with your application can be accessed by emailing SKLADGRANTS@stockport.gov.uk

Read the full guidance HERE

The Government is asking local authorities to prioritise the following types of businesses for grants from within this funding pot:

Small businesses in shared offices or other flexible workspaces. Examples could include units in industrial parks, science parks and incubators which do not have their own business rates assessment;
• Regular market traders with fixed building costs, such as rent, who do not have their own business rates assessment;
• Bed & Breakfasts which pay Council Tax instead of business rates; and
• Charity properties in receipt of charitable business rates relief which would otherwise have been eligible for Small Business Rates Relief or Rural Rate Relief.

Don’t miss out on your opportunity to apply for what you may be entitled to!

Stockport Council are inviting small businesses from the leisure sector who are now in scope, as well as those engaged in the
hospitality industry, to apply for the third phase Government’s Local Authority Discretionary – LAD – Grant Fund Scheme

The current phase three is accepting applications from businesses which occupy property (including multiple properties in Stockport), or part of a property, with a total rateable value or annual rent or annual mortgage payments above £20,000 but below £30,000 per annum, which meet the criteria for being a small business.  Hospitality and leisure sector businesses with rateable values up to £150,000 p.a. which meet the criteria for being a small business as set out in the guidance. 
Properties that will benefit from the relief will be occupied hereditaments that are wholly or mainly being used:
as restaurants, cafes, drinking establishments, cinemas and live music venues, for assembly and leisure; or as hotels, guest & boarding premises and self-catering accommodation.

Applicants who met the criteria outlined in phases one and two but did not meet the deadline, are also able to apply. Read the full guidance HERE
The application for 3rd round closes at midnight on Friday 10th July. 

The coronavirus crisis has brought unprecedented confusion and chaos for many businesses. Financial uncertainties will raise far more questions than answers. The Government has introduced a package of financial schemes designed to provide support to business owners, to the self-employed and to employees. Details of these schemes can be found on the Government’s website and are regularly updated as new guidance and advice is published.

The professional guidance and information below is provided by experts from the financial sector in Stockport to help business owners make informed decisions and to support our valuable business community. 

Are you self employed?

Time is running out for self-employed people to apply for the government’s Self-Employment Income Support Scheme (SEISS) scheme.
Introduced by Chancellor of the Exchequer Rishi Sunak in March, the scheme initially allowed the self-employed claim a taxable grant worth 80% of their average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total. If you’re eligible and your business has been adversely affected you must make your claim for the first grant on or before 13 July 2020. This scheme is being extended. If you’re eligible for the second and final grant, and your business has been adversely affected on or after 14 July 2020 you’ll be able to make a claim from 17 August 2020. You can make a claim for the second grant if you’re eligible, even if you did not make a claim for the first grant.
Find out more about the extension to the scheme.

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