If you are a Director of an insolvent company in need of a Restart Grant Scheme, Oliver Elliot can help you address your claim and concerns arising from the impact of Covid-19 and insolvency.
Covid-19 Business Help
The Restart Grant Scheme supports businesses in reopening safely as COVID-19 restrictions are lifted. Grants have been available from 1 April 2021.
Eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000 from their local council.
Eligible businesses in the hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up to £18,000 from their local council.
Your business may be eligible if it is:
- based in England
- in the non-essential retail, hospitality, accommodation, leisure, personal care or gym sectors
- trading on 1 April 2021
Businesses excluded from the fund
You cannot get funding if your business:
- is in administration, insolvent or has been struck off the Companies House register
- has exceeded the permitted subsidy allowance
You must notify your local council if your situation changes and you no longer meet the eligibility criteria.
This scheme is covered by 3 subsidy allowances:
- Small Amounts of Financial Assistance Allowance – you’re allowed up to £335,000 (subject to exchange rates) over any period of 3 years
- COVID-19 Business Grant Allowance – you’re allowed up to £1,600,000
- COVID-19 Business Grant Special Allowance – if you have reached your limits under the Small Amounts of Financial Assistance Allowance and COVID-19 Business Grant Allowance, you may be able to access a further allowance of funding under these scheme rules of up to £9,000,000, provided certain conditions are met
Grants under these 3 allowances can be combined for a potential total allowance of up to £10,935,000 (subject to exchange rates).
What you get
Local councils will use their discretion to determine whether businesses meet the eligibility criteria for this grant scheme.
Eligible businesses will be paid:
- a one-off grant of up to £6,000 in the non-essential retail sector
- a one-off grant of up to £18,000 in the hospitality, accommodation, leisure, personal care and gym sectors
How to apply
Visit your local council’s website to find out how to apply.
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Disclaimer: Restart Grant Scheme
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