news category General News created 2 April 2020
We’ve become aware of a number of different scenarios that apply to producers, engineers and mixers who either run their own commercial recording studio or are based in a rented production room. As well as the following suggestions The MPG are continuing to push central governent for a business rates holiday for all recording studios.
These guidelines are intended to cover the majority of situations that have come to light, but if you find your particular set of circumstances are not reflected below, please do get in touch via email@example.com
Studios that qualify for Small Business Rates Relief (SBRR) are eligible for a grant of £10,000 through the Small Business Grant Scheme. Usually this applies to businesses with a rateable value of less than £15,000, but there are other circumstances under which businesses can receive it. If in doubt refer to your business rates bill from your local council.
If your studio or production room pays a share of business rates through the landlord rather than receiving a bill directly, then unfortunately this grant will not be accessible to you.
This scheme will be administered by local councils who will write to you if you are eligible for this grant.
We recommend writing to your local council’s business rates division and copying in your council cabinet member for culture. Some studios have been granted business rates holidays to help them during the current crisis. Remember to emphasise:
There is currently a ban on commercial evictions for missed payment of rent in effect until 30th June, which will provide some short term protection for tenants. However this does not remove the liability to pay the rent further down the line, so if you find yourself at risk of not making your rent payment on time we recommend opening a conversation with your landlord at the earliest opportunity. Most landlords would rather keep good tenants in place than go through the trouble and expense of finding new ones. Points to consider:
We have had reports that some members haven’t been able to access the government’s 12-months interest free Coronavirus Business Interruption Loan Scheme and been offered commercial products with high interest rates instead . The business secretary has promised to address this, and that there should be no requirement for businesses to have been rejected from all commercial loans before they qualify for the CBILS product. Please do get in touch if you are having trouble accessing this from your bank, as we are collating this information and feeding it back to the government.
Do Let us know if you are having difficulties accessing any of the hardship funds or bank loans.