BUSINESS RATES – DO I HAVE TO PAY?
3 April 2020
Due to the current disruption with COVID-19, the government has set out a number of measures to support businesses with their business rates.
This note sets out in brief the action that the government have taken regarding business rates.
We are here to help you
We are currently facing unprecedented circumstances. Although this briefing note is intended to give you an overview of commercial landlords and tenants positions, your circumstances may require bespoke advice.
We have put in place contingency plans so that we continue to stand ready to assist you even notwithstanding the stringent health measures now put in place by government.
If you have any questions or concerns about the issues raised below or by your situation, please contact our office on 020 7034 4200 or at firstname.lastname@example.org.
What are Business Rates?
Business rates are payments charged on most non-domestic properties such as shops, offices, pubs, factories, warehouses and guest houses.
Local Councils send these businesses and properties business rates bills each year in February or March.
However, amid the coronavirus outbreak, many businesses are struggling to pay for their business rates.
What action has the Government taken regarding Business Rates
In particular, for the 2020 to 2021 tax year:
- There is a business rates holiday for businesses in the retail, hospitality and leisure sectors in England. Properties will need to be occupied and wholly or mainly used as shops, restaurants, drinking establishments, cinemas or hotels.
- Support is also available for nursery businesses. The nursery must be based in England and the property must be occupied by providers on Ofsted’s Early Years Register and wholly or mainly used for the provision of the Early Years Foundation Stage.
- Estate agents, letting agencies and bingo halls that have closed as a result of COVID-19 are exempted from business rates.
- One-off grants of £10,000 may be available to small businesses (that already pay little or no business rates) through the Small Business Grant Scheme.
Streathers Solicitors LLP
3 April 2020
To discuss how we can help you, please call our office on 020 7034 4200 and ask to speak to a member of the Dispute Resolution team.
*The Briefing Note reflects the position as at the date of publication. The information in this Briefing Note is not intended to amount to legal advice to any person on a specific matter or case. You are advised to obtain specific, personal advice from us about your case or matter and not rely on this Briefing Note.