COVID-19: Capital Grant Scheme up to £150K for businesses in our area

8th April 2020

James Palmer, the Cambridgeshire & Peterborough Mayor has introduced a new Covid-19 Capital Grant Scheme.

 

Grants available are from£2,000 to £150,000 for new capital investments to help companies buy new equipment, build extensions, update production lines, IT and for upgrading logistics during these difficult times.

 

The capital investment grant is to help qualifying companies in the region survive at this time and bounce back stronger in the future.

 

Your project should be something that will support a specific sector which is suffering due to the restrictions of the COVID 19 virus. For example we have already seen how restaurants are now delivering meals to their customers and to the more vulnerable at this time.

 

Please follow the link below which will take you to the grants website where you can check if you qualify and then can apply. The qualifying region spans a wide geographical area covering parts of Lincolnshire, Cambridgeshire, Norfolk and Suffolk.  http://capitalgrantscheme.co.uk/

 

 

In order to qualify for a grant you must meet the following criteria:-

 

  • Be a Limited company
  • Have a turnover under 46 Million Euros
  • Have between 5 and 249 employees
  • Have 3 years accounts filed at Companies House

 

Grants between £2,000 and £49,999 will fund up to 80% of the total qualifying costs.

 

Grants between £50,000 and £150,000 will fund up to 50% of the total qualifying costs.

 

Our team at Whiting & Partners will be able to assist you with your application.



 
Other items in Blogs
 
Lisa Smith
10th August 2020 Covid-19 – VAT complexity of Eat Out to Help Out Scheme

  From 3 to 31 August 2020 businesses that offer a discount under the The Eat Out to Help Out Scheme are able to claim the discounted amount back from the Government.   Whilst on the face of it you might expect VAT only to be payable on the discounted amount, in-fact VAT is payable…

Read More »

Jodie Pheby
5th August 2020 DING DING – ROUND 2!

Claims for the second round of the Self Employed Income Support Scheme (SEISS) can be made from 17 August to 19 October.  The online claims service is not available yet: HMRC are expected to release further information shortly.   The second SEISS payment: Amounts to 70% (previously 80% for the first grant) of average monthly…

Read More »

Jaimie King
31st July 2020 Accounting for Coronavirus Support

Due to the pandemic, many Companies and businesses are receiving support from the government in the form of grants, loans and reliefs. Most of these businesses would not have accounted for something like this previously. UK Accounting Standards have different accounting rules for these types of transactions. Based on the latest guidance available, we have…

Read More »

Chris Kelly
31st July 2020 New grant for employing apprentices

A new scheme which will be launched next Monday, 3rd August to support non-levy paying businesses which recruit new apprentices aged 16-24.   The scheme is called Recruit – Retain – Reward and is provided by the apprenticeship teams at Norfolk and Suffolk County Councils.  It will pay the following:   £1,000 to businesses taking…

Read More »

Stephen Malkin
22nd July 2020 Government sets out draft agenda for a 21st century tax system

Today the government has set out its draft agenda for a 21st century tax system, they say these are the next steps in an ambitious plan to create a modernised digital tax system fit for the modern world.   This is part of the Treasury’s long term tax digitisation plan, which is designed to increase…

Read More »

Stephen Malkin
22nd July 2020 Are you MTD compliant?

Over the last week or two HMRC have begun getting in touch with small businesses across the UK who are not complying with Making Tax Digital (MTD) but are required by law to do so.  These businesses need to take action now to avoid any potential penalties being levied.   If you are a VAT…

Read More »