Tuesday, June 14, 2022

News: Council keen to get Covid cash to companies


Only £500,000 out of a £1.5 billion government COVID-19 fund has so far reached local businesses via Rotherham Council.

The authority has now approved a new scheme to distribute a remaining £4m pot which is at risk of going back to the Government if it is not spent.

In March 2021 the Government announced a COVID-19 Additional Relief Fund (CARF) to support those businesses affected by the pandemic but that were ineligible for previous support linked to business rates.

The Government only announced Rotherham Council’s funding allocation of £4.8m and the detailed scheme guidance in December 2021 and the council's scheme and eligibility criteria was approved at Cabinet in February 2022.

So far, 120 businesses, with a total relief value of £528k, have been approved.

This was based on providing business rates relief of 50% of the business rates bill up to a maximum of £6k for eligible businesses.

With so much of the cash still remaining, a decision was taken by the council to top up approved claimants’ relief up to 100% of their 2021/22 business rates bill, with a maximum award of £30,000.

In addition, businesses that were eligible but did not apply will be awarded up to £2,900.

A cabinet paper explains: "The Council needed to agree an approach to topping up the businesses that did apply for the award to further utilise the funding and potentially, providing a smaller award to those businesses that could benefit from the scheme but haven’t come forward for support.

"An officer decision was taken to allow the Council to increase the award for businesses that have been approved via the Council’s application process to 100% businesses rates relief, up to a maximum of £30k. This will cost £1.9m.

"The remaining funding will then be used to provide a smaller payment to businesses that are eligible but have not applied, a payment of up to £2,900 per business will be made and it is estimated this will cost £2.9m.

"Businesses provided with an award will receive a revised 2021/22 business rates bill."

Images: Google Maps


Supported by:
More news...

  © Blogger template Newspaper III by Ourblogtemplates.com 2008

Back to TOP