Types: There are two different types of the rental subsidy and deduction schemes:. For sample calculations, please click here. Rental deductions. Combined rent. An applicant must submit accounting evidence such as audited accounts and profit and loss statement at the time of application to demonstrate it is eligible for funding under this COVID Business Grant Special Allowance. BEIS may vary the terms of these schemes or suspend or close the schemes with immediate effect, without notice and at any time.
In derogation to the above, grants can be granted to micro or small enterprises as defined above that were already in difficulty on 31 December provided that they are not subject to collective insolvency proceedings. For the avoidance of doubt, the TCA enables Local Authorities to still pay out subsidies under previously approved State Aid schemes, as these will be in line with the principles set out in the TCA. More information on subsidy controls are available at GOV. Payments made where the de minimis threshold has been reached may be paid under section 3.
This can be converted into pounds using the appropriate exchange rate published monthly by the European Commission.
Any business that has reached these limits may only receive further grant funding if the conditions set out in Section 3. A business to be granted aid under Section 3. If you have any doubt as to your position you must seek appropriate advice before applying as the responsibility lies with the business. When submitting your application for a COVID related grant support the Local Restrictions Support Grant closed Addendum or Restart Grant etc we will ask you to confirm, if you are applying for this grant aid under one or more of the new subsidy allowance thresholds.
A Salford City Council business template for declaring subsidies received can be downloaded from the bottom of this page which is based on the template provided by government. This can be uploaded at the time of application, or we may ask you for this information whilst processing your application, should our due diligence checks highlight that you have exceeded the Small Amounts of Financial Assistance Allowance.
If you are applying under the COVID Business Grant Special Allowance, in addition to submitting the business template for declaring subsidies received you must also submit at the same time additional accounting evidence. This should be a copy of your audited accounts or official statutory accounts filed at Companies House, or approved accounts submitted to HMRC, plus a profit and loss statement.
Further details on the accounting evidence required can be found in Annex 1 of the Salford City Council business template which can be downloaded from the bottom of this page. You must also declare that you were not an undertaking in difficulty on 31 December and are not in administration, insolvent or subject to a striking-off notice. Therefore, it is very important that you take care to ensure that the information provided to the local authority is accurate and up to date, particularly if your company may be coming close to the allowance thresholds.
If your company has accepted COVID aid from the local authority which has caused your organisation to exceed the new domestic subsidy allowances, the local authority shall be entitled to recover any such payments from you.
A corn subsidy, for example, is money given to farmers who are willing to grow corn in their farms. This is done to encourage people to grow more corn. Maybe because there is a demand for corn or something.
An allowance refers to money given to a person to cover some specific expenses. A heating allowance, for example, is money given to some mostly poor people who need to buy wood for their fireplace, or petrol for their radiator in order to stay warm in winter. Allowance can also mean pocket money.
Money given to children by their parents every now and then. They could mean the same thing, but allowance is generally not official and a subsidy is generally not from an informal agent. The one learning a language! Learn about premium features.
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