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£10,000 Small Business Grant Scheme – updated 02 April 2020
What is the grant:
An immediate grant of £10,000 will be provided to all small businesses who are eligible for the Small Business Rate Relief Scheme.
- Available to all businesses with a ratable value up to £15,000 to ease their immediate cash flow pressures.
- Vacant properties are not eligible for this grant
- MLA Constituency offices are not eligible for this grant
- Business with multiple premises will only be eligible for one grant of
£10,000 in total.
Scheme will cost £267,000,000 and assist some 27,000 businesses.
Full information available at: https://www.nibusinessinfo.co.uk/content/coronavirus-business-support- grant-schemes
How to check the ratable value on a property: Businesses can check their NAV online: https://lpsni.gov.uk/vListNDN/search.asp?submit=form
The rating system will be used to identify eligible businesses. Last year’s rating will be the basis for payment and businesses who are also eligible as a result of revaluation are also being identified.
How to access the £10,000 grant
If you pay business rates by Direct Debit
- Payment will be made directly into the bank accounts of eligible businesses which currently pay their rates by Direct Debit.
- 6,775 eligible businesses were the first to receive payment (around 27 March 2020), because their bank details were already held by Land & Property Services (LPS).
- (Note that if details of more than one bank account were held by LPS, for example where there are multiple business rate accounts using different bank accounts, LPS has not made an assumption on which bank account to use. In this case, you need to use the online form to provide your bank details)
If you don’t pay your business rates by Direct Debit
- Bank details need to be collected from eligible small businesses who do not pay their business rates by Direct Debit. If you think you are eligible for the £10,000 Small Business Support Grant, you should use the online web portal to register for the grant and provide bank details for grant payment.
Your registration details will be checked and if everything is in order, the grant payment will be sent directly to your bank account and you will receive an email confirming that the grant payment has been issued, withi
£25,000 Small Business Grant Scheme
An immediate grant of £25,000 will be provided to companies in the retail, tourism and hospitality sectors
Available to businesses with a rateable value between £15,000 and £51,000.
Scheme will cost £100,000,000 and assist some 4,000 business
£25,000 Grant – Further details on distribution of grant to be announced soon
The schemes will be administered by the Department for the Economy and Invest Northern Ireland working with the Department of Finance’s Land & Property Services. Officials are currently processing the data to ensure that the support reaches the right people.
Further information will be provided as it becomes available