As part of the coronavirus support package for businesses, the chancellor announced a number of different business rates reliefs and/or cash grants.
The measures are:
Further details and the eligibility criteria for each scheme is detailed separately below:
You are eligible for the business rates holiday if your business is based in England and operates in the retail, hospitality and/or leisure sector.
Properties that will benefit from the relief will be occupied properties that are wholly or mainly being used:
A detailed list of the businesses that the government consider qualifying can be found in the local authority guidance (page 5-8):
The Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property.
You are eligible for the grant if:
Eligible businesses in these sectors with a property may qualify for the following grants:
£10,000 – for properties with a rateable value of up to £15,000.
£25,000 – for properties with a rateable value between £15,000 and £51,000.
You can find your rates valuation at the following link:
https://www.gov.uk/correct-your-business-rates
Properties that will benefit from the relief will be occupied properties that are wholly or mainly being used:
Again, a full list can be found within the local authority guidance provided above.
There is also a business rates holiday for qualifying nurseries in England for the 2020 to 2021 tax year.
You are eligible for the business rates holiday if:
Properties that will benefit from the relief must be:
The government will provide funding for local authorities to support small businesses that already pay little or no business rates because of Small Business Rate Relief (SBRR), Rural Rate Relief (RRR) and tapered relief. This is known as the Small Business Grant Scheme. This will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs.
You are eligible if:
All of the above schemes are administered by the local authority. It was initially announced that the relevant local authority would contact eligible businesses, however some local authorities have decided to operate an applications process. Therefore if you believe your business will be eligible but have not been contacted by your local authority, we would recommend you enquire about the application process.
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