In response to the COVID-19 pandemic, the UK Government has introduced multiple initiates to support small businesses across the UK. One of these initiatives is to provide business rates relief for many businesses within the retail, leisure and hospitality sector for the tax year 2020-2021.
This article explains who can benefit from the business rates relief, what relief is available, and how to get it.
Which properties have benefitted from the business rates relief?
The UK Government has waived business rates for the 2020 to 2021 tax year for most business within the retail, hospitality and leisure sector at a cost of approximately £10 billion.
This means that if you own a:
- hospitality property, e.g a hotel, a guest house or self-catering accommodation,
- restaurant, café, bar, or pub,
- a venue for live music or cinema,
- property used for assembly or leisure, e.g. a sports club, gym, or spar,
And that property is wholly used (or mainly being used) for that purpose, then your business rates for 2020-2021 have be waived.
Financial, medical and professional services do not quality for this relief, however. This means that things like banks, vets, doctors, solicitors and accountant offices are not eligible.
How much business rates relief is available?
Under this scheme, the government has provided relief amounting to 100% of the bill for 2020-2021.
It has also been separately announced that nurseries will receive a 100% “business rates holiday” for the 2020-2021 tax year.
How to get your business rates relief
If you missed this information earlier in the year, no problem. You don’t need to do anything to receive your business rates relief. Your local council will automatically apply the discount when you receive your bill.
If however, you do not receive business rates relief for the 2020 to 2021 tax year and think that you are eligible, it is advised that you contact your local council for more information.