Cambridge BID Reopening Guide | April 2021
Government Grants In the March 3rd budget the Chancellor announced a range of support measures for businesses across sectors that have been hardest hit by the pandemic. For further details on these grants
Click here Business Rates Holiday – additional 3 months (1st April 2021 –30th June 2021)
Reduced rate of VAT of 5% extended until 30th September 2021 (Hospitality only)
Restart Grant – up to £6k for retail and up to £18k for hospitality
The government has extended the temporary 5% reduced rate
A new grant fund will be available to businesses in England
of VAT until 30th September 2021. To help businesses manage
through a new £5 billion Restart Grant scheme to help the
the transition back to the standard rate, a 12.5% rate will then
high street, providing up to £18,000.
apply for a further six months, until 31st March 2022.
More details here
The current 12-month business rate holiday in England has
Recovery Loan Scheme
been extended by an additional three months. This discount will
A new Recovery Loan Scheme will also be launched to replace
be processed automatically by the local authority with business
the existing government guaranteed schemes which have
rates to be issued from 1st July 2021. Further business rates
supported £73 billion of lending to date and close at the end
relief is available to those businesses who are still unable to trade.
of March.
More details here
More details here
More details here
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