Where an applicant has reached its limit under the Small
Amounts of Financial Assistance Allowance and COVID-19 Business Grant
Allowance, it may be able to access a further allowance of funding under the
COVID-19 Business Grant Schemes of up to £10,000,000 per single economic actor,
provided the following conditions are met:
The Special Allowance covers only the applicant’s uncovered
fixed costs incurred during the period between 1 March 2020 and the date of
application, including such costs incurred in any part of that period
(‘eligible period’);
Applicants must demonstrate a decline in turnover during the
eligible period of at least 30% compared to the same period in 2019. The
calculation of losses will be based on audited accounts or official statutory
accounts filed at Companies House, or approved accounts submitted to HMRC which
includes information on the applicant’s profit and loss;
‘Uncovered fixed costs’ means fixed costs not otherwise
covered by profit, insurance or other subsidies;
The grant payment must not exceed 70% of the applicant’s uncovered
fixed costs, except for micro and small enterprises (for the purposes of this
scheme defined as less than 50 employees and less than £9,000,000 of annual
turnover and/or annual balance sheet), where the grant payment must not exceed
90% of the uncovered fixed costs;
Grant payments under this allowance must not exceed
£10,000,000 per single economic actor. This allowance includes any subsidies
previously received in accordance with Section 3.12 of the European
Commission’s Temporary Framework or previously received under the COVID-19
Business Grant Schemes using this COVID-19 Business Grant Special Allowance;
all figures used must be gross, that is, before any deduction of tax or other
charge;
Grants provided under this allowance shall not be cumulated
with other subsidies for the same costs.
An
applicant must be able to provide the necessary documentation to demonstrate it
is eligible for funding under this COVID-19 Business Grant Special Allowance