The business rates holiday for the 2020/21 tax year already announced in respect of retail, hospitality and leisure businesses has been expanded to cover estate agents and letting agents, employment agencies and betting shops.
The Business Rates Expanded Retail Discount gives a 100% business rates discount for qualifying properties with no limit on Rateable Value.
Businesses who will benefit from the relief will be occupying properties used wholly or mainly:
- as shops (such as: florists, bakers, butchers, grocers, greengrocers, jewellers, stationers, off licences, chemists, newsagents, hardware stores, supermarkets etc), charity shops, opticians, post offices, furnishing shops/display rooms, car/caravan show rooms, second-hand car lots, markets, petrol stations and garden centres;
- as restaurants, takeaways, cafes, sandwich shops, coffee shops, drinking establishments, cinemas and live music venues;
- for assembly and leisure such as sports grounds and clubs, museums, art galleries, nightclubs, theatres, tourist attractions, gyms, wellness centres, casinos, gambling clubs and bingo halls;
- as hotels, guest and boarding premises and self-catering accommodation including holiday homes and caravan parks and sites;
- for services provided to visiting members of the public such as hair and beauty services, shoe repairs, travel agents, ticket offices, dry cleaners and laundrettes, electrical repairs, funeral directors, photo processing, tool and car hire, employment agencies, estate agents and letting agents and betting shops.
How to access the relief
There is no action for businesses to take; the relief will be given automatically by local authorities on all properties deemed to qualify.
In addition to the rates holiday, the Retail, Hospitality and Leisure grant is available for businesses operating from properties which qualify for the Business Rates Expanded Retail Discount for 2020/21 and which have a rateable value of less than £51,000.
Businesses operating from properties with a rateable value of up to £15,000 are eligible for a grant of £10,000. Those with properties having a rateable value of between £15,001 and £50,999 are eligible for a grant of £25,000.
The grant is given per property and, in order to receive the grant, businesses must apply directly to their local authority.
Details on how to apply for the grant can be found in the following article.