CORONAVIRUS BUSINESS SUPPORT SCHEME – BUSINESS PREMISES SUPPORT SCHEME (CBSS-BPSS) – August 2021
This scheme offers eligible businesses and self-employed persons grant assistance to support local customer facing businesses in designated sectors that have been financially affected during August 2021 due to the increase in COVID-19 cases in the Isle of Man, due to either staff self-isolation requirements or a drop in customer demand due to COVID-19.
The Scheme operates in two parts. Applicants may apply either for part one or part two of the Scheme, but not both parts of the Scheme. The first part is in relation to financial support to eligible businesses based on a business’ annual rates bill(s) or rates contribution for one year for each of its commercial premises. The second part is in relation to a one-off payment of £1,000 to those businesses who do not have business premises or whose annual rates bill(s) is less than £1,000. Therefore the minimum payment possible to eligible applicants under this Scheme is £1,000.
To be eligible, applicants must: -
1. Have suffered a 25% reduction in turnover when comparing their August 2021 turnover against either August 2019 or August 2020 turnover, due to either staff self-isolation requirements or a drop in customer demand due to COVID-19
Important notes – New startup businesses which do not have comparable trading figures in 2019 or 2020 may be eligible.
2. Operate in an eligible customer facing sector as follows:
- Catering
- Entertainment
- Hospitality
- Leisure
- Lifestyle Sectors, including but not limited to beauty, hairdressers, gyms and personal trainers
- Retail (excluding any retailer that is liable to pay income tax at a 10% rate under
- Service sector business including but not limited to, Child Care, Removal companies, taxis and mini buses.
3. Also meet a number of other eligibility criteria.
Further information regarding eligibility and the application process can be found on the Scheme’s webpage: https://www.iomdfenterprise.im/coronavirus/extended-covid-19-support/
Applicants who are unsure of their eligibility are encouraged to email enterprisesupport@gov.im or call 687333 before applying.