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Luton Borough Council

Financial support and advice

 

Grants

Loans and funds

Recovery Loan Scheme

This scheme provides lenders with a guarantee of 80 per cent on eligible loans between £25,000 and £10 million. Details on the scheme.

Access full guidance on applying for the loan here.

Relief and further help

Business Rates

The government has provided a 100 per cent business rates holiday for businesses in the retail, hospitality and leisure sectors. Businesses will receive 66 per cent relief, up to a cap, for the following nine months.

For further information on the expanded retail discount and the cash cap pot.

The government have set out plans to provide an extra, targeted support package for businesses who have been unable to benefit from the existing £16 billion business rates relief for retail, hospitality and leisure businesses. However as yet we have not been provided with any further details. Update guidance will be published here as soon as it is available.

For further information on business rates relief boosted with new £1.5 billion pot.

VAT

The government has extended the 5 per cent reduced rate of VAT for goods and services supplied by the tourism and hospitality sector for a further six months until the end of September 2021. The rate will then increase to 12.5 per cent from October until the end of March 2022, before returning to the normal 20 per cent rate from April 2022.

For further information on businesses can check eligibility here on VAT rate reductions.

Statutory Sick Pay Rebate Scheme

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay (SSP) paid to current or former employees.

The repayment will cover up to two weeks starting from the first qualifying day of sickness, if an employee is unable to work because they either:

Filing of accounts

Businesses will be given an additional 3 months to file accounts with Companies House to help companies avoid penalties as they deal with the impact of COVID-19.

For further information on applying for more time to file your company’s accounts.

Find out more

Advice and guidance available locally

Support from local business

Our Economic Development team is on hand to offer support and advice local businesses [email protected] .

We can also help support your business to upskill people who are now looking at different way of working or for staff who are looking for a new role due to redundancy through Luton Adult Learning.

Contact us on [email protected] for more details or visit Luton Adult Learning.

SEMLEP

SEMLEP’s Growth Hub is offering businesses support, advice and guidance to help local businesses navigate the current situation. Their business advisers are available to talk to business owners and directors about the critical areas of their business affected by coronavirus.

To contact the team, please email [email protected] or call 0300 01234 35.

See the SEMLEP website for more information on the support available for businesses.

Bedfordshire Chamber of Commerce

- see BCC website

Federation of Small Businesses

- see FSB website

The Business Investment District (BID)

The BID’s business support hub has been launched to help Luton town centre businesses manage during the coronavirus crisis.

#LutonBusinessSupport acts as a matchmaking service - to link those who can offer support with those town centre businesses seeking help, advice and/ or guidance. It is also designed to be a community within which businesses can share experiences, ask questions and offer support and advice.

At the heart of this new business hub is a #LutonBusinessSupport Facebook group.

Also see guidance on health and safety.

© 2022 Luton Council, Town Hall, Luton LU1 2BQ