Advice for Businesses
Check the UK Government website “Support for Businesses” page for up to date Guidance on the support available.
Advice for Businesses – Updated 18.06.2020
- 1-year rates holiday for all retail, hospitality and leisure properties beginning in April.
- NDR relief of 1.6% all properties across Scotland, from April.
From the East Lothian Investments website:
"ELI has implemented a business interruption loan which replaces the previous interest free loan offering.
"Loans can be applied for to a maximum of £5,000, interest free with a holiday repayment period of 4 months. There is a 5% arrangement fee to be paid up front and the loan will have a term of 24 months after the holiday period has ended. It is open to existing businesses only that have been trading for more than 2 years and have employees.
"It is intended that turnaround decisions on loans will be within 7 days and with successful applications funds can be paid within 24 hours, provided the arrangement fee is paid, contract signed and any caveats or other legal requirements are fulfilled.
"All applications and paperwork will be done via e-mail and arrangement fee and loan award will be paid by bank transfer."
You can find more information and the application form here: https://www.eastlothianinvestments.com/[visual-link-preview encoded="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"]
- East Lothian Council services are working to engage proactively with our core critical providers with the key aim to protect, retain and support critical service provisions both during and once recovery phase of COVID-19 is implemented.
- East Lothian Council is also working proactively with our core partners such as enjoyleisure to identify options to ensure contractual commitments can continue to be met within these organisations and support on-going resilience and sustainability of these core provisions for East Lothian community.
- The Council will work ensure payments are made to suppliers as quickly as practically possible.
- The Council will not pursue any new recovery actions relating to outstanding debt during this current period.
- Flexibility will be provided to any commercial property where East Lothian Council is the landlord to offer payment holidays of up to 6 months with the option of repaying the rent in full over a maximum of 18 month period. Requests for business to receive a payment holiday must be made directly to the council
- East Lothian Investments are promoting a new Business Interruption Loan which is available to existing businesses that have been trading for 2 years. More details can be found online from the East Lothian Investments Ltd site.
- have submitted your Income Tax Self Assessment tax return for the tax year 2018-19
- traded in the tax year 2019-20
- are trading when you apply, or would be except for COVID-19
- intend to continue to trade in the tax year 2020-21
- have lost trading/partnership trading profits due to COVID-19