20 March 2020

Support for retail, hospitality and leisure businesses that pay business rates and small businesses that pay little or no business rates will be available as part of the Chancellor’s relief package. Read more in our blog.

Support for businesses that pay business rates

The government will introduce a business rates retail holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. 

Businesses that received the retail discount in the 2019 to 2020 tax year will be rebilled by their local authority as soon as possible.

A £25,000 grant will be provided to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value between £15,000 and £51,000.

Any enquiries on eligibility for, or provision of, the reliefs should be directed to the relevant local authority. Guidance for local authorities on the business rates holiday will be published by 20 March.

Eligibility

You are eligible for the business rates holiday if:

1.    Your business is based in England.
2.    Your business is in the retail, hospitality and/or leisure sector.
3.    Properties that will benefit from the relief will be occupied hereditaments that are wholly or mainly being used:
4.    as shops, restaurants, cafes, drinking establishments, cinemas and live music venues
5.    for assembly and leisure
6.    as hotels, guest & boarding premises and self-catering accommodation

How to access the scheme

There is no action for you. This will apply to your next council tax bill in April 2020. However, local authorities may have to reissue your bill automatically to exclude the business rate charge. They will do this as soon as possible.
 

Support for businesses that pay little or no business rates

The government will provide additional funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBBR). This will provide a one-off grant of £10,000 to businesses currently eligible for SBRR or rural rate relief, to help meet their ongoing business costs.

If your business is eligible for SBRR or rural rate relief, you will be contacted by your local authority – you do not need to apply.

Find out more about how the grants wll be calculated and how to see if you are eligible in our video:


Funding for the scheme will be provided to local authorities by government in early April. Guidance for local authorities on the scheme will be provided shortly.

Eligibility

If your business is eligible for SBRR or rural rate relief, you will be contacted by your local authority. You do not need to apply.

How to access the scheme

Funding for the scheme will be provided to local authorities by government in early April. Guidance for local authorities on the scheme will be provided shortly.
 

You can read further information on this on the UK Government website.

We’ve put together articles on a wide number of items announced as part of the Chancellor’s support package – visit our Coronavirus hub to get all the latest details.

Coronavirus Hub


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While there will be plenty of disruption over the next few weeks, we’re here to help! To arrange a call, email Julie on julie@nephosaccountants.co or complete our enquiry form. 
 

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