The Government have announced additional national Business Rates measures that will apply from 1 April 2020.
The Government announced changes to the Retail Discount as a temporary measure for the 2020/21 financial year only from 1 April 2020
From 1 April 2020, the discount available for retail premises will be increased to 100%. 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).
Click here for further details of the current Retail Discount Scheme
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.
Click here for further details of the current Nursery Discount.
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.
Small business grant funding
The Government announced it would provide a grant of £10,000 to small businesses currently eligible to Small Business Rate Relief to help meet their ongoing business costs.
Properties whose liability is calculated using the small business multiplier but not in receipt of small business rates relief will not qualify for this grant and neither will properties which are occupied for personal use, e.g. private stables, beach huts and moorings even if they are in receipt of relief.
Retail, Hospitality and Leisure Business Grants Fund
Announced by the Chancellor on the 17th March the current proposal is that properties which would have qualified for retail discount on 11th March will be entitled to either, £10,000 where the RV is £15,000 or less or £25,000 where the RV is greater than £15,000 and less than £51,000.
Further details about these grants, including an online form for qualifying businesses to complete, can be found via our Support that South Holland District Council can offer businesses section.