Businesses urged to apply for final £9m in Covid rate relief funding as deadline approaches
The deadline to apply for the final round of the Covid-19 Additional Rate Relief package is fast approaching, and businesses are being urged to find out if they are eligible to receive up to 100 per cent business rate relief.
The package of support is part of a national £1.5bn response announced by the Government last year and the final application deadline of July 15 is fast approaching. The scheme could pay up to 100 per cent of the business rates bill for 2021/22. Payments will be made towards a business’s 2021/22 rates bill.
If the award of a relief puts the rate account into credit, the credit could be used to offset any other outstanding business rates liability, or the 2022/23 business rates bill. Alternatively, the Council will be able to provide a refund of the credit. However, there are potentially hundreds of businesses in Manchester who are eligible for the payment but have not yet applied.
For example, a manufacturing company received £51,200 towards their business rates after they could demonstrate that their trading had “drastically reduced” due to staff furlough and eventual redundancies, which had led to building up debt in loans to make ends meet.
Similarly, a recent Manchester recipient of the CARF support working in the supply chain to the retail sector received £8,233.50 towards their businesses rates after they were able to demonstrate that their sales “fluctuated” due to the pandemic, and they were also forced to move into a larger rental unit to accommodate social distancing.
And an IT company whose turnover reduced by 30 per cent during the pandemic received £9,241.50 in business rate support that has helped them to continue trading.
Cllr Bev Craig, leader of Manchester City Council, said: “We have £9m left to provide support to businesses to help pay their rates. We know that this is often a major outgoing for any business, and we are eager to support as many businesses as possible. I would strongly urge anyone who hasn’t already made an application to do so as soon as possible.
“The application process is straightforward, and it could mean that 100 per cent of a businesses’ rates are covered this year, or it could be processed as a refund if a business has already paid their rates this year. There’s only a couple of weeks left, so please take a look.”
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