The government has introduced a business rates holiday for retail, hospitality and leisure businesses. Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020 to 2021 tax year. Guidance has also been updated to include nurseries based in England who are on Ofsted’s Early Years Register and use their property wholly or mainly for the provision of the Early Years Foundation Stage.
Businesses that received the retail discount in the 2019 to 2020 tax year will be rebilled by their local authority as soon as possible.
A £25,000 grant will be provided to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value between £15,000 and £51,000.