Business Rates Holiday for Retail, Hospitality and Leisure Businesses!

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Business Rates Holiday for Retail, Hospitality and Leisure Businesses

What is it?

Businesses in the retail, hospitality and leisure sectors in England will not have to pay rates for the 2020 to 2021 tax year.

Am I eligible?

You’re eligible for the business rate holiday if your property is a:

  • Shop
  • Restaurant, cafe, bar or pub (drinking establishments)
  • Cinema or live music venue
  • Assembly or leisure property - example, a sports club, a gym or a spa
  • Hospitality property - example, a total, a gust house or self-catering accommodation

How Much Relief Will Be Available?

The total amount of government funded relief available for each property for 2020/21 is 100% of the bill, after mandatory reliefs and, other discretionary reliefs have been applied.

What do I need to do to apply?

There is no action for you. Your local council will apply the discount automatically.

You can estimate the business rate relief using business rates calculator. Contact your local council if you’re not getting a relief you think you’re entitled to.

When Does It Apply?

The relief will apply to your business rates bill for the 2020 to 2021 tax year. Your local council may have to reissue your tax bill but will do this as soon as possible.

This article was written for Saint Financial Group, a multidisciplinary group based in the UK that helps small businesses develop and grow. SaintFG offers a range of quality solutions in supporting businesses. If you need another further guidance or would like to know how we can work with you, get in touch today!

Written by:

Dylan O'Rourke MAAT

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