The Chancellor has recently announced that 100% retail discount will be available to qualifying properties for 2020-21.
Properties that will benefit from the Retail Discount will be occupied business properties that are wholly or mainly being used as shops, restaurants, cafes, drinking establishments and are reasonably accessible to visiting members of the public.
Following an announcement on 23 March 2020 of further measures to limit the spread of coronavirus, the government confirmed that that some previous exclusions for this relief, such as estate agents and letting agents, have been removed, so that retail, leisure, and hospitality properties that will have been forced to close as a result of the COVID-19 restriction measures will now be eligible for the relief.
The Government guidance for Retail Discount can be found here.
The following businesses for the purposes of this scheme are not considered retail and will not qualify:
- Financial services (e.g. banks, building societies, cash points, bureau de change, short-term loan providers)
- Medical services (e.g. vets, dentists, doctors, osteopaths, chiropractors)
- Professional services (e.g. solicitors, accountants, insurance agents/ financial advisers)
- Post office sorting offices
Business Rates bills for 2020/21 will be updated and issued at the earliest opportunity.