Please review www.businessnk.co.uk regularly – this is where all details regarding future funding schemes will be available as soon as we have them to share with you. Additionally, view gov.uk.coronavirus/business-support as details emerge. Support and advice are also available at businesslincolnshire.com
Financial Support
NKDC Business Grants Overview
All Covid-19 grants have now closed, North Kesteven District Council (NKDC) no longer hold any government funding for these grants, we therefore ask that businesses no longer contact the Council in relation to funding. If your business requires support going forward, please contact the Economic Development Team or our Business Support Adviser Phil Means.
We are pleased to announce that since the start of the financial support package in March 2020, NKDC has distributed £38,197,458 through 7565 Covid-19 business grants payments supporting 2232 unique businesses. All discretionary funds that the council have received have been fully allocated and administered.
The Grants Team have worked tirelessly to ensure these funds reach the businesses in need as quickly as possible, at the height of the pandemic the Grants Team were administering up to 10 different grant schemes. We would like to take this opportunity to thank local business for their cooperation in helping us achieve this.
The grants that have been administered throughout the last two years include 10 mandatory schemes and 10 discretionary schemes details of all schemes can be found below.
Mandatory schemes:
- Local Restriction Support Grant (LRSG) Closed
- LRSG Open
- LRSG Closed Addendum
- Christmas Support Payment
- Closed Business Lockdown Payment
- Restart Grant
Discretionary schemes:
- Additional Restriction Grant (ARG) Severe Impact
- ARG omicron Impact
- Discretionary Grant Fund Severe Impact
- ARG Start Up
- ARG Adapt & Revive
- ARG Required to Close
- ARG Sector Support
- ARG Top up support to Hospitality
- ARG Omicron top up
Please note, grant funding is taxable and we encourage businesses to consult their accountant for further information on this. Information from the Government’s Omicron Hospitality and Leisure Grant guidance about tax can be found below:
Will grants be subject to tax?
53. Grant income received by a business is taxable. The Omicron Hospitality and Leisure Grant will need to be included as income in the tax return of the business.
54. Only businesses that make an overall profit once grant income is included will be subject to tax.
55. Payments made to businesses before 5 April 2022 will fall into the 2021/22 tax year. Unincorporated businesses will be taxed when they receive the grant income.