Changes to Business Rates
Expanded retail discount
On 17 March 2020 the government announced that it would provide further support for businesses for 2020-21 in response to the coronavirus (COVID19). Under the scheme the amount of discount for 2020-21 will increase to 100% and is extended to apply to occupied retail, leisure and hospitality properties.
Supporting small business
Any business which is no longer eligible for small business rate relief due to an increase in rateable value from 1 April 2017 will have increases capped to no more than £600 in the first year.
Discretionary rate relief
A £300m discretionary fund has been made available to councils to assist businesses hardest hit by the revaluation.
The government is providing funding to local authorities so that they can provide a discount worth up to £1,500 a year on office space occupied by local newspapers. This was due to run for 2 years from 1st April 2017, but has now been extended to apply for 2020/21.
This scheme provides up to a maximum of one discount per local newspaper title and per hereditament, and up to state aid limits.