The UK Government is introducing a business rates holiday for retail, hospitality and leisure businesses that have to close as a result of Covid-19 restriction measures.
The aim of the measure is to provide relief for businesses that are experiencing the significant disruption caused by Covid-19. In England, businesses in these sectors are eligible for the following grants.
- Businesses with a rateable value of under £15,000, will receive a grant of £10,000.
- Businesses with a rateable value of between £15,001 and £51,000, will receive a grant of £25,000.
In Scotland, businesses in retail, hospitality and leisure with a rateable value between £18,000 and £51,000 (inclusive) will be eligible for a one-off grant of £25,000.
Who is eligible?
Businesses must be based in England and in the retail, hospitality and/or leisure sector. The grant applies to properties that are used:
- as shops, restaurants, cafes, drinking establishments, cinemas and live music venues
- for assembly and leisure
- for hospitality, as hotels, guest & boarding premises or self-catering accommodation.
How to Apply?
At this stage you do not need to do anything. You will be contacted by your local authority.