Strategic Framework Business Fund
The final four-weekly payment from the Strategic Framework Business Fund will be made on 22 March 2021. On 19 April 2021, all SFBF recipients will automatically receive a combined final two-week payment from the Fund and a one-off restart grant to help them reopen:
Retailers in receipt of SFBF will be eligible for grants up to £7,500 based on rateable value:
- For properties with a rateable value below £51,000: £7,000 (£6,000+£1,000)
- For properties with a rateable value above £51,001: £7,500 (£6,000+£1,500)
Hospitality and leisure in receipt of SFBF will be eligible for grants up to £18,000 based on rateable value:
- For properties with a rateable value of £15,000 or under: £9,000 (£8,000+£1,000)
- For properties with a rateable value between £15,001 and £51,000: £13,000 (£12,000+£1,000).
- For properties with a rateable value of £51,001 or over: £19,500 (£18,000+£1,500).
How grants will be paid
They are replacing the pattern of recurring payments made through the SFBF with a one-off Restart Grant for business in the retail, hospitality and leisure sector specifically to support them in meeting the costs associated with the costs of re-opening. These payments will be administered by local authorities. This bespoke support will be supplemented by UK Government support.
All businesses currently in receipt of support through the Strategic Framework Business Fund will receive the final payment and Restart Grant.
4th SEISS Grant
The Self-Employment Income Support Scheme has been extended with two further grants to be issued, which will take you through to September 2021, if eligible. Some people will be invited to apply from the 22nd April, but as he previous grants, you will be issued with an application date, on or around this date. This is the important part, and it will be under scrutiny from HMRC in the future - to claim, you must have believed you would have a "significant reduction" in profits for one of two reasons either because of "reduced demand, activity or capacity" OR you're unable to trade.
If you are claiming furlough currently or have been in March, please send us an email on firstname.lastname@example.org to confirm if you will remain on furlough in April, it would be greatly appreciated. If you have any questions regarding furlough please get in touch with us via email or contact us on 0141 435 7206