19 Mar Expanded Retail Discount Guidance
Please note that the MHCLG have published the extended retail discount guidance and as promised I am updating you with the link below.
We are looking to update our software as soon as possible to get this additional help to businesses that qualify. Once again can I remind you we have deferred any April 2020 payment from any businesses likely to qualify for the additional help. There is no need for businesses that qualify for retail rate discount (including the expanded retail discount) to contact us. We will automatically amend bills and send the new ones for 2020-21 to you.
HM Treasury have also given additional information about the business grants today. The full criteria is still being established but more information is available about them at https://www.gov.uk/government/news/chancellor-announces-additional-support-to-protect-businesses
In summary the Government are providing £20 billion of business rates support and grant funding to help the most-affected firms manage their cashflow through this period by:
- giving all retail, hospitality and leisure businesses in England a 100% business rates holiday for the next 12 months
- increasing grants to small businesses eligible for Small Business Rate Relief from £3,000 to £10,000
- providing further £25,000 grants to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value over £15,000 and below £51,000
As I stated the full criteria to qualify for the grants has not been finalised but the Treasury are keen for the Local Authorities – who will administer these grants – to get the payments out to qualifying businesses in early April 2020
I will as promise continue to keep you updated as I learn more about the above reliefs and grants but if any business within Mid Sussex has issues due to the current coronavirus situation that is not covered in the information already provided please do contact us by email at email@example.com
If you want to discuss further please do let me know. Once again I am happy for you to share this information with any business within Mid Sussex DC.
Please note in the school closure announcement yesterday – please see https://www.gov.uk/government/news/schools-colleges-and-early-years-settings-to-close?utm_source=ab2c52ba-df74-46bf-a3ab-b18ebfb5a001&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate – this included the announcement of a business rates payment holiday in 2020-21 for nurseries.
The MHCLG have informed us that they will send Local Authorities more guidance on this in coming days. I will as promised keep you updated
Please do let me know if you need any additional information or clarification
Mr Kevin Stewart, FIRRV, MAAT, MCMI
Business Unit Leader Revenues and Benefits