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covid19.gov.im Coronavirus Business Support Scheme : Isle of Man

Organization : Isle of Man Government
Scheme Name : Coronavirus Business Support Scheme
Country : Isle of Man
Website : https://covid19.gov.im/businesses/funding-support/coronavirus-business-support-scheme/

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IM Coronavirus Business Support Scheme

The Department for Enterprise’s Coronavirus Business Support Scheme has been established to provide grant assistance to support local businesses in designated sectors that have been financially affected by the global COVID-19 pandemic.

Related / Similar Service : PAN Foundation COVID-19 Financial Support Fund

The scheme offers financial support to eligible businesses in the form of a grant payment of £3,000.

Eligible Sectors

Eligible businesses must have less than 100 employees (unless indicated in the table below) and be operating in one of the following sectors in the table below.

Please note, the business can be self-employed, and/or employing one or more employees

Eligible Sectors Either
Self-employed person
Or
More than 1 employee
Tourist accommodation (Hotels can be more than 100 employees) Yes Yes
Catering and entertainment  Yes  Yes
Travel and tour operators  Yes  Yes
Logistics  Yes  Yes
Retail (less than 26 full-time equivalent employees)                  Yes  Yes
Construction (incl. horticulture, architects, quantity surveyors and painters/decorators) Yes  Yes
Education  Yes  Yes
Animal care  Yes  Yes
Commercial fishing Yes  Yes

Important Note :
The scheme excludes large retailers; any retailer that is liable to pay or will be liable to pay income tax at 10% rate under the large retailers tax for the 2018/2019 income tax year.

Eligible Criteria

For all businesses, the following must be declared
** It has been financially affected by loss of trade caused by the COVID-19 pandemic;
** It was operating on 28 February 2020 and subsequently

** To the best of its knowledge, it is the intention of the business to continue trading through the current difficult conditions into at least the short to mid-term future; and

** The business does not have any overdue payments of more than 3 months relating to Income Tax, National Insurance and VAT
** For Tourist Accommodation, the premises/site is registered with the Department for Enterprise;

** It has one or more employees (which can be either full-time or part-time permanent employees) which can include the owner/a self-employed person; and

** It has less than 100 employees (with the exception of the hotel sector) or in the case of the retail sector, 26 or fewer full-time equivalent employees.

Eligible Employees

In order to qualify for the Scheme and financial assistance, a self-employed person must
** Be a self-employed earner as defined by the Social Security Contributions and Benefits Act 1992;

** Have already notified the Treasury under regulation 87 of the Social Security (Contributions) Regulations 2001 of their liability to pay Class 2 National Insurance Contributions;

** Have been in operation, in the capacity specified in the first bullet point, continuously for a period that commenced no later than 28th February 2020;
** Have annual profits or gains wholly or mainly from a relevant sector as set out in these guidance;

** Not have been granted a certificate of Small Earnings Exception or would have been granted such a certificate had an application to Treasury been made; and

** In the event of the person’s making an application to the Treasury for the purpose, not have his or her liability to pay Class 2 or Class 4 National Insurance contributions deferred or treated as deferred.

How To Access?

** Application forms should be completed via the online form.

Apply Online :
https://www.iomdfenterprise.im/coronavirus-bss-application-form/

** All applicants are encouraged to carefully review their eligibility status before submitting the application form.

** Businesses who are unsure of their eligibility, may contact the Department by telephone on 687333 or by completing the brief online enquiry form which can be found at www.gov.im/businessenquiries

** Applicants are encouraged to scan and email to enterprisesupport [AT] gov.im, posting applications may reduce response times.

** Following receipt of a correctly completed and eligible application form, the Department will seek to process payments within approximately 5 working days of submission of the application

Note :
Please do not re-apply if you have already submitted a previous application for this scheme.

Assessment Criteria

The Department will assess each application based on the following criteria
** FULL completion of the application form -please ensure you’ve checked that every section of the form is completed; and
** Eligibility

Scheme Guidelines :
https://www.statusin.org/uploads/pdf2020/48146-GL.pdf

Key Information

** Only one application and payment per business in each round of funding will be permitted.

** The grant must be used for businesses purposes by the supported business. It is intended that the grant can be used in two broad ways
a) to help alleviate cash flow issues and
b) to undertake business improvement initiatives.

** If you apply for this scheme, you cannot apply for the Manx Earnings Replacement Allowance (MERA) Grant
** The Department will authorise payment to be made. All payments will usually be made into the applicant’s business bank account as soon as possible

** Due to the high volume of expected applications, the Department will notify ineligible or rejected applicants via email stating the reasons for the refusal

** The provision of financial assistance is discretionary and the decision to provide assistance is based on the merits of each particular case

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