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Business rates relief for businesses during COVID (19) expanded to include estate agents, letting agents & bingo halls

Many high street businesses that have closed due to Covid-19 restrictions will now be exempt from business rates for 2020-21.

This measure comes after the Chancellor announced in the Budget that, in response to Covid-19, the business rates retail discount would be increased to 100% and would be expanded to the hospitality and leisure sectors.

The Government has now announced that some of the exclusions for this relief have been removed, so that retail, leisure, and hospitality properties that have closed as a result of the Covid-19 restriction measures will now be eligible for the relief.

Retail discount will be increased to 100% and expanded to cover all retail, leisure and hospitality businesses in England, to include estate agents, lettings agencies and bingo halls who will now be exempted.

This will ensure that estate agents, lettings agencies and bingo halls that are required to close will not pay any business rates next year.

Eligible businesses will be rebilled by their local authority and the new bill will give them the discount of 100%.

Local authorities will identify businesses that are entitled to the discount and will send a revised bill. If you have temporarily closed due to the Coronavirus (COVID-19) you do not need to inform Business Rates of the temporary closure.

If businesses have made payments in the meantime, they will be refunded by their local authority.

See Government announcement here.

The Devolved Administrations will receive funding under the Barnett formula to support businesses in Scotland, Wales and Northern Ireland.

Businesses in Wales - Rate Relief for Premises over £500,000

Please note that The Welsh Government has decided to make one adjustment to the Non-Domestic Rates (NDR) Relief for the hospitality, retail and leisure sector announced last week: to not extend the 100% relief to the small proportion of properties with a rateable value of £500,000 and above.

More: https://businesswales.gov.wales/business-rates-relief

Please contact your usual WR Service Delivery Manager in the first instance to discuss or visit our Contact Us page.

See other Coronavirus Updates here

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