Updated 19th March 2020
The Government has announced the following expanded Retail Discount relief for 2020/21:
– There will be 100% discount for business rates payments in the retail, leisure and hospitality sectors
– Retail properties are those being used for the sale of goods to visiting members of the public such as shops, post offices, car show rooms, petrol stations, garden centres and art galleries
– Retail also includes the provision of services to members of the public such as hair & beauty services, travel agents, dry cleaners, funeral directors, tool hire and car hire
– Retail also includes properties used for the sale of food and drink to visiting members of the public such as restaurants, take aways, coffee shops, Pubs and bars
-Leisure properties include cinemas, live music venues, nightclubs, theatres, gyms, sports & leisure facilities, public halls, clubhouses and tourist attractions.
– Hospitality sector includes hotels, guest houses, holiday homes and caravan parks
However, there are currently exclusions to this list that include:
– Financial services – banks, building societies, betting shops, pawn brokers, bureaux de change
– Medical services – doctors, dentists, vets
– Professional services – chartered surveyors, solicitors, accountants, insurance, financial advisors
– Casinos and gambling clubs
There are two provisos to the above statement:
– The UK Government must seek approval from EU that normal state aid rules will not apply. This is currently a maximum of Euros 200,000.
– The property must be occupied and not vacant.
For further advice about business rates, and how the above regulations may affect you and your business, please contact a member of our dedicated Business Rates Team below