Nobody could have planned for what the UK business community is experiencing during this coronavirus outbreak

There have been so many emergency provisions announced by the government over the last week to try and provide financial support to UK businesses, to ease cash-flow, pay employees, contribute towards property costs and finally some help for the self-employed businesses who find themselves unable to generate enough income as a result of the shut down.

In the third part of a series of posts we have summarised below what is available to help businesses with their property costs throughout the shutdown period:

Whilst the basics still apply to the information below, read our updated post here to see the changes made in Autumn 2020

Business Rates Holiday for Retail, Hospitality and Leisure

• What support is available?

Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020-21 tax year. Businesses that received the retail discount in the 2019-20 tax year will be rebilled by their local authority as soon as possible.

• What do I need to do?

There is no action for you. Local authorities will apply the business rates holiday to your bills. You can estimate the business rate charge you will no longer have to pay this year using the business rates calculator httpss://www.gov.uk/calculate-your-business-rates

Cash Grant for Retail, Hospitality and Leisure

• What support is available?

If your business is in the retail, hospitality or leisure sector, you will receive a cash grant of up to £25,000 per property.

Businesses in these sectors 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.

• What do I need to do?

Your Local Authority will write to you if you are eligible for this grant.

Small Business Grant Funding

• What support is available?

The Government is providing additional funding for Local Authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief. This will provide a one-off grant of £10,000 to eligible businesses to help meet their ongoing business costs.

• What do I need to do?

You do not need to do anything as your Local Authority will write to you if you are eligible for this grant.