Fareham Borough Council has today confirmed details of further funding being made available solely for local businesses who have been adversely affected by the pandemic but are not eligible for existing business rates relief.
The Government has announced the ‘COVID-19 Additional Relief Fund’, which will distribute £1.5 billion to eligible businesses across the country. Fareham has been allocated £2,640,130 of this fund to help support certain ratepayers in the Borough by reducing their 2021-2022 business rates bill by 25%.
Businesses in the retail, hospitality, and leisure sectors, are not eligible for this funding as that sector has already benefited from significant rates relief.
The Council has identified over 600 properties which could be eligible for this funding as well as businesses which vacated premises since 1 April 2021.
Eligibility criteria for this funding includes:
- Businesses must be/have occupied rateable premises on 1 April 2021.
- Where a business has left its premises, the 25% will be applied on the basis of the revised business rate bills for the occupied period.
- Businesses must confirm that they have been adversely impacted by the coronavirus restrictions at their premises either through social distancing, government recommendations to work from home, or reduced demand and have been unable to adequately adapt to that impact.
- Businesses must confirm their Subsidy Allowance/State Aid position.
Executive Leader of Fareham Borough Council, Cllr Seán Woodward, said: “I am delighted that we are able to offer this additional funding, especially as it specifically targets businesses that have been ineligible for other schemes. Many local businesses have appealed for reductions in their business rates, and I am very pleased that we are now able to offer this relief to reduce pressure on businesses across the Borough.”
Full eligibility criteria and details of how to apply can be found on the Council’s website here: https://www.fareham.gov.uk/business/business_rates/reliefs.aspx
