Our Fund is now CLOSED
What does equity mean?
Equity is the amount of house that you own, so it is the value of your house minus the amount that you owe on your mortgage. So for example, if your house was worth 100,000 and you had a mortgage for 50,000, your equity would be 50,000 pounds.
If you’re unsure about what you’ll be earning in the next six months, what should you put down?
What we’re trying to get a sense of with that question is any income that you’re reasonably expecting in the next six months. So, it would be any jobs that you already have booked or you have a contract for anything you feel you’re along the way of securing. And then there may be other income, such as interest on savings. Whatever that might be, it’s the income that you can reasonably expect or know that you will get over the next six months.
Why is there an eligibility limit of £30,420?
£30,420 is quite a specific figure. It’s actually the medium UK income in 2019 according to the office of national statistics. This fund aims to support those people who are both most in need but also least financially resilient to the impact of the pandemic. We are only inviting people to apply who are in the lower part of UK earners.
If I work on commercials or as an artist creating videos for an art installation, can I apply?
If you look at our guidance, we have quite detailed information on what we define as working in film and television or cinema. By working in film, TV or cinema we mean making content that will be broadcast or streamed on television channels or a paid-for stream service, or in a cinema. But we know that many people that work in our industry make films for other purposes. So we have some level of discretion around that. Really check carefully into the eligibility because we put as much detail as we can there.
If you still have questions about your specific circumstances, call our Support Line. They should be able to help talk you through that.
If people who are applying include their partners’ income, do they have to include their expenses as well?
Yes, absolutely. If you are talking about your household income, which is the income of you and anyone else who you’re financially responsible or dependent with, then you can include both your household income, annual household outgoings, to get a sense of the finances that you have available as a household.
If you already access other schemes like SCSS or universal credit can you still apply for the fund?
Yes, we ask that you put that in the relevant section and will take that into consideration in the funding. But yes, if you’re receiving other funding, that’s absolutely fine. Please just declare it in the relevant section.
Does gross income mean after deducting business expenses?
When we ask about your growth annual income, we’re asking about the income that you as a person are receiving. So if you run a business that would be your income you are taking from your business. So any business costs will be covered first before that income became your personal income.
What has informed the requirement for at least 40 days of work?
That is in our eligibility criteria because this fund is designed to support active workers in film, TV and cinema. People who were working in getting an income from working in film, television or cinema. We have said that is 40 days in the last 18 months, which is kind of working about 10% of the time over those 18 months. We have extended that to 18 months because we know that a lot of people won’t have been working in the last six months or will have had much more sporadic work in the last six months because of COVID-19, but it is just to demonstrate that before COVID-19 you were getting an income from working in film, TV or cinema.