Business Rates & Covid-19
Market - March 25th 2020
Due to the evolving Coronavirus outbreak government have introduced measures to support businesses through the period of disruption caused by COVID-19.
In respect of companies that pay Business Rates this includes:
- 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 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.
For smaller businesses that already pay little or no business rates because of small business rate relief (SBBR) the Government 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.
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.
Crickmay would be glad to help any local businesses who have queries about the incoming measures, if you want to contact us with your question please email: email@example.com