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Support for Businesses with a Rateable Value

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Support for Businesses with a Rateable Value

The Government are bringing in a business rates retail holiday for all retail, hospitality and leisure businesses in England for the 2020/21 tax year. Businesses that received the retail discount in 2019/20 will be re-billed by Local Authorities as soon as possible.

There is also a £25,000 grant which will be provided to retail, hospitality and leisure businesses operating from small premises with a rateable value between £15,000 and £51,000.  

Any enquiries regarding eligibility for or provision for the relief should be directed to the relevant Local Authority. The Guidelines for the Local Authorities will be supplied to those businesses tomorrow, 20th March 2020.

For businesses that pay little or no business rates because of small business rate relief (SBBR), they will receive a one-off grant of £10,000 to help meet the ongoing business costs. You will automatically be contacted by your Local Authority; you do not need to apply.

Again, as above, the funding for the scheme will be provided by the Local Authorities in early April and guidance will be issued shortly.

 

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