Please find below some information that has been provided to us in regards to cricket clubs and the various measures in place to help financially.
HMRC will introduce a business rates holiday for retail, hospitality and leisure businesses in England
for the 2020/2021 tax year. No action is required and this will apply to your next council tax bill in April
2020 meaning that there would be no rates payable for those businesses for 2020/2021.
The retail, hospitality and leisure sectors in England can also apply for a cash grant of up to £25,000
per property. For rateable values of under £15,000, they will receive £10,000. Between £15,001 and
£51,000, they will receive a grant of £25,000. No action is required as local authorities will write to
eligible businesses. Smaller businesses within the Small Business Rate Relief or Rural Rate Relief will
Business Interruption Loan Scheme - (Updated 23/03/2020 @ 12.32pm)
The British Business Bank will launch a scheme from the week commencing 23 March 2020 to
support businesses with a turnover of no more than £45 million per year. The government will provide
lenders with a guarantee of 80% on each loan. This applies for loans of up to £5m in value and for up
to 6 years. No interest will be charged for the first 12 months.
The scheme is now open for applications as from Monday 23 March. To apply, you should talk to your
bank or one of the 40 accredited finance providers (not the British Business Bank) as soon as
possible, to discuss your business plan.
The major high street banks are on this list of 40 providers. Gov.uk states that more information can be
found on their websites.