IGA urges businesses to tap into £1.5bn of unclaimed emergency funding – or lose it

Time 1 year ago

The Independent Garage Association is urging businesses to grab their share of £1.5bn of emergency coronavirus funding before the government takes it back.

The money – which is available to all businesses, including dealers as well as workshops – is just sitting in council bank accounts at the moment, with lump sums of £10,000 available via the Small Business Grant Fund, as well as £25,000 from the Retail, Hospitality and Leisure Grant Fund, with a grand total of £12bn released by the Treasury.

The money was made available in March to help with cash flow, but the BBC has reported that £1.5bn is still there for the taking, with the Treasury poised to withdraw it by the end of August.

The Local Government Association wants more time and flexibility for local authorities to make sure that businesses are benefiting from the pots of cash.

Meanwhile, it’s also been revealed by the IGA that the £51,000 business rate relief cap no longer applies, so it is also urging businesses that had been unable to claim for the relief because of the cap to get in touch with their local council.

IGA chief executive Stuart James said: ‘If you have not claimed for any government funding yet, we urge you to contact your local council and apply.

‘If you have previously applied but were unsuccessful, you can contact the IGA to help build your case. Many members have already successfully claimed the funding and business rate relief, so we can advise on the best way to respond to your council.’

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John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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