Business Rates and Cash Grants – support for retail, hospitality and leisure businesses
Summary of Government Support produced by Prager Metis – Last updated 23 March 2020
What we know
In response to the coronavirus (COVID-19) the Government announced additional measures to help smaller businesses and the self-employed individuals. This includes business rates holiday and cash grants for retail, hospitality, leisure and nursery businesses.
In England
- Expanding the 100% business rates holiday for the next 12 months to cover all retail, hospitality and leisure businesses in England – not just those up to £51k Rateable Value.
- Providing a £25,000 cash grant to retail, hospitality and leisure businesses in smaller premises, with a Rateable Value below £51k.
- Increasing the proposed £3,000 cash grant to 700,000 small businesses (those eligible for Small Business Rate Relief) to a £10,000 cash grant. This will also apply for those eligible for rural rates relief.
You can find additional details and guidance on the Government website: Click Here
In Scotland
- 12-month 100% relief rates holiday for businesses in hospitality, leisure and retail. Grants will also available for Scottish companies in this sector.
- Providing a £25,000 grant for businesses in hospitality, leisure and retail with a rateable value between £18,000 and £51,000.
- Small firms receiving the small business bonus or rural relief will be eligible for a £10,000 grant. Businesses will be also be able to request to defer all payment.
- All non-domestic properties will get 1.6% relief, reversing the poundage change.
You can find additional detail on the Scottish Government’s package of reliefs and grants: Click Here.
In Northern Ireland
- 3-month rates holiday for all businesses, which effectively means a further 25% discount off your bill.
- The issuing of rates bills will be deferred from April 2020 until June 2020.
- Small firms who are eligible for the Small Business Rate Relief Scheme will receive a £10,000 grant.
- Providing a £25,000 grant to companies in the hospitality, tourism and retail sectors with a rateable value from £15,000 to £51,000.
For more information visit the Northern Ireland Business info website: Click Here.
In Wales
- 12-month rates relief for businesses in retail, leisure and hospitality.
- £25,000 grant for retail, leisure and hospitality businesses with a rateable value of between £12,001 and £51,000.
- Shops leisure and hospitality businesses with a rateable value of £51,000 or less will receive 100% business rates relief, administered through their local authority.
- Pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bill, administered through their local authority
- Small firms eligible for Small Business Rates relief with a rateable value of £12,000 or less will receive a £10,000 grant.
You can find additional details on the Business Wales website: Click Here
Who to contact
You should contact your Local Authority about how to access the Grant Scheme.
No action is required to take advantage of the business rates holiday for retail, hospitality and leisure businesses and this will apply to your next council tax bill in April 2020 meaning that there would be no rates payable for those businesses for 2020/2021.
