Business Rates announcements
The Government have announced additional national Business Rates measures that will apply from 1 April 2020.
From 1 April 2020, the discount available for retail premises will be increased to 100 percent. This scheme was expanded to include cinemas and properties which are wholly, or mainly, used for the purpose of live music. It has now been further expanded to include hospitality and leisure properties (such as museums, theatres, gyms and hotels).
As an extraordinary response to the coronavirus, the Government announced a business rates Nursery Discount on 18 March 2020.
This discount will apply to hereditaments occupied by providers on Ofsted's Early Years Register and wholly or mainly used for the provision of the Early Years Foundation Stage and which are subject to business rates in the year 2020/21. There will be no rateable value limit on the discount. Ofsted will ensure that all local authorities can access the Ofsted Early Years Register to help authorities identify eligible properties.
Local Newspaper relief
Offices occupied by Local Newspapers will receive an annual £1,500 discount for five years from 1 April 2020 until 31 March 2025.
Public Houses with a rateable value below £100,000 will receive up to £5,000 in relief for the 2020/21 financial year.
In line with the Government guidance, we will be updating our Discretionary Rate Relief Policy to reflect these changes. We will be taking proactive steps to identify the businesses that are likely to qualify for each of these reliefs.
Local Restrictions Support Grant
The Local Restrictions Support Grant (LRSG) will be made available to eligible businesses in the District that are impacted directly by the four week National lockdown. In a similar way to the Small Business Grant and Retail, Hospitality and Leisure Grant funds which were delivered earlier this year, the grant will be available to rated operating businesses/hereditaments (to qualify, a hereditament must be rated as of 05/11/20) that are required by law to close due to restrictions. View more information about the Local Restrictions Support Grant for closed businesses.