Businesses that have been flooded, and businesses that are in affected areas and have suffered significant loss of trade, will be able to apply for support from the Government. Eligible businesses will be able to claim for funding for things like immediate clean-up costs, materials, and exceptional costs to help them continue trading.
You may be aware that the government is offering a range of support for small businesses affected by the recent floods, but if you were unaware then we have the basics here for you!
The grant scheme will go live on 1st April 2014 and the available support includes:
A £5,000 repair and renew grant for all affected businesses (and also homeowners), topping up any money received from insurers to ensure flood resilience is built into homes and businesses as they are repaired.
All affected businesses will get 100% business rate relief for 3 months and an extra 3 months to pay business taxes owed to Her Majesty's Revenue & Customs (HMRC) as they get back on their feet.
A £10 million fund for farmers suffering water-logged fields to help restore them to farm-able land as quickly as possible.
A total commitment in excess of £750 million from the major banks to provide financial support to businesses and individual customers affected by the floods. Up to £10 million available as emergency funding and support for businesses in flood affected areas.
The Government's Business Support Helpline, 0300 456 3565, is offering advice and support to businesses affected by the flooding, including a free 1 hour call with a dedicated Business Support Adviser.
If your company has been affected by the floods and is unable to file accounts or other documents on time as a direct result, Companies House will agree an extension and you will not be penalised for late filing of accounts.
If you think that your business will benefit and that your business has been adversely affected by the recent flooding then contact your local authority and fill in your application. Can you afford not to??
Thebestof Barnstaple wishes all those affected by flooding and adverse weather the best of luck for the future and that normal business practice resumes at the earliest opportunity for all!
Member since: 10th July 2012
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