Financial help during Covid-19

New Grants and Support for Businesses (April 2022):

The Omicron Hospitality & Leisure Grant and Additional Restrictions Grant have now closed and no new applications are being accepted. Successful applications should have received payment by the end of March 2022. 

Existing Support: 

Coronavirus (COVID‑19) support and advice on the main Bath & North East Somerset Council website:

Help for businesses | Bath and North East Somerset Council (bathnes.gov.uk)
 

Recovery Loan Scheme

The Recovery Loan Scheme is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period. You can get up to £10 million, but the actual amount offered will be at the discretion of participating lenders. The government guarantees 80% of the finance to the lender, but you will still be responsible for your debt.

The scheme ends on 30 June 2022.

From 1 January 2022, different rules apply:

  • the scheme will only be open to small and medium-sized businesses
  • the maximum amount of finance available will be £2 million per business
  • the guarantee coverage that the government will provide to lenders will be reduced to 70%

Businesses trading in the UK can apply. You need to show that your business:

  • would be viable were it not for the pandemic
  • has been adversely impacted by the pandemic
  • is not in collective insolvency proceedings (unless your business is in scope of the Northern Ireland Protocol in which case different eligibility rules may apply)

Find out if your business is eligible for the Recovery Loan Scheme.
 

Time to pay arrangement

If you cannot pay your tax bill on time because of coronavirus, you may be able to set up a Time to Pay Arrangement with HMRC. This lets you spread the cost of your tax bill by paying everything you owe in affordable instalments.

You might be eligible if your UK business:

  • pays tax to the UK government
  • has outstanding tax liabilities
     

Art Fund network grants

Provide funding to support Subject Specialist Networks (SSNs) and other curatorial and professional networks in sharing expertise across the museum sector, for the benefit of collections and audiences. Visit the website to view their open funding programmes, including their new Respond and Reimagine grants to help museums, galleries and cultural organisations respond to the immediate challenges posed by the Covid-19 crisis.

Youth Music has announced an Emergency Fund to offer additional support to music-making organisations affected by coronavirus. 
 

CITB Skills and Training Fund

CITB Skills and Training Fund has been refreshed and now encompasses two strands supporting; micro and small companies (up to 100 employees), medium sized businesses (up to 250 employees) to become a wider offer for employers. CITB has adapted to the COVID-19 situation by amending the scope of activity that will be supported offering more flexibility on what businesses can apply for.

The fund comprises of two streams:

  • A Skills and Training fund for micro and small businesses where businesses can apply for a maximum of £10,000 (full details and how to apply) depending on the size of the employer.
  • A Skills and Training fund for medium-sized businesses where employers with up to 250 employees are eligible to receive up to £25,000 (full details and how to apply).  

Based on employer need the fund will allow businesses to define then address their particular challenges. The focus has broadened from productivity and innovation, to helping employers with business sustainability and skill retention – key concerns for the construction industry in the extraordinary circumstances we find ourselves in at the moment.