ADDITIONAL RESTRICTIONS GRANT FUNDING AVAILABLE

IF YOU QUALIFY PLEASE APPLY BEFORE EOD 24TH JANUARY, 2022

BCP Council has announced that applications for the Additional Restrictions Grant (ARG) Stream 4, Strategic Business Round 2 are now open. Please see the information below and to apply:

Due to limited applications made for the previous Strategic Businesses scheme, the criteria has been changed. A new application window has been set up to support more medium and large businesses.

Eligibility

To qualify for a grant, businesses must:

  • be a medium or large business which employs over 20 people
  • have been severely financially impacted by the pandemic with a reduction in business income of at least 25% during a period of at least 6 months compared with similar comparable periods of trade
  • be able to demonstrate tangible outputs for recovery (capital expenditure is not permitted)
  • not have received a Local Restrictions Support Grant or previous Additional Restrictions Grant.

How much support eligible businesses will receive:

Grants to eligible businesses can be up to £25,000 in order to enable tangible outputs for recovery. This fund is a competitive process and each application will be assessed against the scoring matrix with recommendations made for approval by the Award Panel. As such only those with the highest scores from the Award Panel will be funded within the budget allocated. Applicants will be notified of decisions following the assessments after the end of the application window.

To request the application form in Word document format, please emailargstream4@bcpcouncil.gov.uk.

Once completed the form must be returned by email with the required supporting documents to argstream4@bcpcouncil.gov.uk.

By downloading and completing this form you confirm that your business complies with the eligibility criteria detailed above.

The application window is open from 10 January 2022 until midnight on 24 January 2022.

 

AND

 

OMICRON HOSPITALITY AND LEISURE GRANT FUNDING AVAILABLE. IF YOU QUALIFY PLEASE APPLY BEFORE EOD 14TH FEBRUARY, 2022.

It’s aimed at businesses in the hospitality, leisure and accommodation sectors only.

https://www.bcpcouncil.gov.uk/News/News-Features/COVID-19/Employers-and-businesses/Financial-support-for-businesses/Omicron-Hospitality-and-Leisure-Grant.aspx

 

Financial support announced for businesses impacted by the Omicron variant

The UK Government announced additional financial support for businesses most impacted by the Omicron variant, particularly those in Hospitality and Leisure:

  • Businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 per premises, plus more discretionary funding will be made available for local authorities to support other businesses
  • Government will also cover the cost of Statutory Sick Pay for Covid-related absences for small and medium-sized employers across the UK
  • Further funding will be made available through the Culture Recovery Fund, enabling more cultural organisations in England to apply for support during the winter

BCP Council is currently awaiting further guidance regarding eligibility, timing and grant allocations and will communicate updates via our business newsletterwebsite and social media as soon as possible.

Find out more here from UK Gov.uk.

 

 

Recent Events

BCTC Event Baron of Beef 2021

Baron of Beef and Presidents dinner September 2021 at the ...

Cook up a storm this Christmas with AFCB! 🧑‍🍳

Prepare Christmas dinner in style this year with kitchenware inspired by the Cherries.

The perfect gift for budding chefs and bakers, the Cherries three-piece bundle includes oven gloves, a tea towel and an apron for just £25. You can also pick up each individually from as little as £8.

Take a trip to Vitality Stadium for a festive shopping experience or shop online and have all your gifts delivered straight to your door by clicking below.

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Operators of Furnished Holiday Lettings businesses will have been affected by restrictions during the Covid-19 pandemic, but all is not necessarily lost says Saffery Champness

The pandemic has clearly impacted the UK’s tourism sector heavily, including many Furnished Holiday Let (FHL) businesses, which were forced to close for a large part of the 2020 holiday season. Even following reopening, stringent cleaning requirements and social distancing regulations meant increased costs, longer turnaround times and reduced capacity for those businesses

As a result, many properties have failed to meet the FHL criteria over that period. To qualify for the FHL treatment in a tax year, a property must:

·      Be available for commercial letting as holiday accommodation to the general public for 210 days in the year
·      Be actually let commercially as holiday accommodation to the general public for at least 105 days in the year (excluding periods of longer-term occupation, ie continuous periods of more than 31 days), and
·      Not be let for periods of longer-term occupation (continuous periods of more than 31 days) for more than 155 days per year.

The above tests will generally apply to a tax year, unless it is the first or last year of letting.

Tax Director, Ian Harlock-Smith, Saffery Champness said:
“There are several differences between FHLs and standard residential lettings, including the fact that FHLs are treated as a trade. The provision of the holiday accommodation is subject to VAT and plant and machinery capital allowances can be claimed on furniture, fixtures and white goods in the property. Profits from FHLs also qualify as earnings for pension contribution purposes and the restrictions on deductibility of finance costs for tax purposes, that apply to residential landlords, do not apply to FHL businesses, so owners get full tax relief on any mortgage interest.
“In addition, Capital Gains Tax (CGT) reliefs such as Business Asset Rollover Relief, Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) and relief for gifts of business assets also apply to FHLs.
“Where a property business no longer qualifies as an FHL, these benefits will no longer apply.”
Where more than one FHL is let, an averaging election can be made. This is useful where some but not all properties have met the letting condition. The number of days let is averaged across the portfolio of properties let as FHLs and can result in all properties then qualifying.

Similarly, where a property has not been let for 105 days or more in the year, a ’period of grace’ election can be made. This allows the property to qualify as an FHL by deeming the let days condition to have been met, so long as all other FHL conditions were met for the year. It must be demonstrated that there was a genuine intention to let the property in the year. The HMRC guidance includes cancellation due to unforeseen circumstances, for example closures due to the lockdown restrictions, as an acceptable reason for not meeting the letting condition. To qualify for the period of grace election, the property must have met the letting condition in the previous year. The period of grace election can be made for up to two consecutive years, so for both 2020-21 and 2021-22 if necessary, which could be useful if the business did or does not recover quickly.

However, if the property does not qualify as an FHL after two consecutive period of grace elections, it will cease to qualify as an FHL thereafter, until it meets the conditions again.

It is also possible to combine both the period of grace and averaging elections to ensure a property continues to qualify as an FHL. Ian Harlock-Smith concludes:
“Due to reduced turnover and increased costs, many FHL businesses may have made a net tax loss in 2020-21. This loss can only be carried forward and offset against future profits from the FHL business and cannot be offset against other income or other UK property business profits.
“However, where the FHL did not meet the qualifying criteria for 2020-21, for example, and neither a period of grace nor averaging election is made, losses incurred in 2020-21 will be treated as regular UK property business losses.”

 
About Saffery Champness LLP
Saffery Champness LLP is a firm of chartered accountants that advises individuals and families, not-for-profit organisations and businesses across a range of sectors. As a member of Nexia International, it is part of a worldwide network of independent accounting and consulting firms.
For over 160 years, the firm’s success has been founded upon providing clients with a genuinely partner-led service and working with them to create bespoke solutions that help them to achieve their personal and business objectives. For more information visit www.saffery.com or see Twitter @Safferys

What a great night of BH Banter!

Mulled wine and mince pies went down well at BH Banter at the Ocean Beach Hotel yesterday. We had a fantastic turnout last night and our guest speaker Richard Burn from Dorset Growth Hub wasn’t able to make it in person, but with the powers of technology, he was able to give us an update on “Grants for local business” via Zoom!
Three new members came along and received their members’ certificate –
Be sure to look out for confirmation of the February BH Banter event.

Letter from David Sidwick, Police & Crime Commissioner for Dorset

1 December 2021

Dear colleague,

Firstly, I would like to thank those of you who provided feedback on the frequency of these letters. Most of the feedback said that you would like to receive a monthly letter to update you on what’s been happening here at the Office – so, here is my first monthly PCC letter to you all.

Coincidentally, it’s been a month since I emailed you about the launch of my Police and Crime Plan and it has certainly been a busy month of progress on that front. This month has seen three national weeks of action: Safer Gambling Week, Alcohol Awareness Week and 16 Days of Action all of which link to the priorities in my plan.

As joint APCC lead for Addictions and Substance Misuse Portfolio, I am pleased to be able to highlight the work I am doing in securing a regional joined-up approach on drug dealing, substance misuse and gambling addiction, so that the entire South West works together to reduce this risk. There are also some quick-time positive actions that can be made to tackle problem gambling. For example, my office is working with Dorset Police Custody and the Criminal Justice Liaison and Diversion service to identify and monitor how many detainees have a gambling addiction – which hasn’t been done before. This will help give some much-needed information about the size of the problem in our county.

My blog addressing the issue of violence against women and girls highlights a lot of the work that is happening behind the scenes, including taking the very practical action of funding the purchase of over 1000 drink spiking testing kits, which will be made available in key locations, including hospitals, police stations and nightclubs across Dorset as well as almost 14,000 ‘stop-tops’ and ‘bottle-top spikes’, to help prevent drinks from being ‘spiked’.

A couple of weeks ago, I held the first Business Crime roundtable alongside Inspector Helen Deakin, the strategic business crime lead for Dorset Police, and we spoke with twenty representatives of national groups and local businesses to start the process of creating a Dorset Safer Business Partnership.

I also held the first Rural Crime roundtable where I got to discuss a range of rural crime issues with the Rural Crime Team, the Environment Agency, local authorities, insurance companies as well the National Farmers Union.

November has also seen me witness a warrant being executed on a shop in Boscombe, where thousands of pounds worth of illegal cigarettes and tobacco were seized together with a large amount of cash and suspected cannabis. It was a great example of partnership working in action; to see police officers working alongside our partner agencies was not only inspiring, but very encouraging when I consider the pledge I have made to make Dorset the Safest County in England and Wales.

Kind regards

David Sidwick
Dorset Police and Crime Commissioner