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Small business rates relief

IMPORTANT NOTICE PLEASE READ

Business Grants

Omicron Hospitality and Leisure Grant

 

The scheme CLOSED on 18th March 2022 and all final payments will be made and dispersed to recipients by 31 March 2022.

 

On 21 December 2021, Government announced the introduction of grant support for hospitality and leisure businesses in England who have been impacted by coronavirus restrictions and the rise of the Omicron variant.

 

One off grants up to £6,000 will be paid to hospitality, leisure and accommodation businesses in England occupying hereditaments appearing on the local rating list only 

 

  • Hospitality definition: a business whose main function is to provide a venue for the consumption and sale of food and drink

 

  • Leisure definition: a business that provides opportunities, experiences and facilities, in particular for culture, recreation, entertainment, celebratory events, days and nights out, betting and gaming

 

  • Accommodation definition: a business whose main lodging provision is used for holiday, travel and other purposes.

 

 

Rateable Value

Grant Amount

£1 to £15,000

£2,667

£15,001 to £50,999

£4,000

Over £51,000

£6,000

 

 

COVID-19 business grant funding schemes: guidance for local authorities - GOV.UK

 

 

 

From the 1st April 2017, ratepayers who occupy a property with a rateable value which does not exceed £50,999 (and who are not entitled to other mandatory relief or are liable for unoccupied property rates) will have their bills calculated using the lower small business non-domestic rating multiplier, rather than the national non-domestic rating multiplier.

In addition, generally, if the sole or main property is shown on the rating list with a rateable value which does not exceed £15,000, the ratepayer will receive a percentage reduction in their rates bill for this property of up to a maximum of 100%. For a property with a rateable value of not more than £12,000, the ratepayer will receive a 100% reduction in their rates bill.

Generally, this percentage reduction (relief) is only available to ratepayers who occupy either-

(a) one property, or

(b) one main property and other additional properties providing those additional properties each have a rateable value which does not exceed £2,899, (relief will only be applied to the main property)

The rateable value of the property mentioned in (a), or the aggregate rateable value of all the properties mentioned in (b), must not exceed £19,999 on each day for which relief is being sought. If the rateable value, or aggregate rateable value, increases above those levels, relief will cease from the day of the increase.

The Government has introduced additional support to small businesses. For those businesses that take on an additional property which would normally have meant the loss of small business rate relief, the Government has confirmed that they will be allowed to keep that relief for a period of 12 months.

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