Chancellor Rishi Sunak has outlined a series of measures intended to provide financial support in light of coronavirus COVID-19.
The coronavirus (COVID-19) pandemic has caused disruption and uncertainty to businesses around the world. The government are introducing temporary measures to help ease the financial impact of COVID-19 on UK businesses.
The supportive measures are rapidly evolving as the full impact of COVID-19 on UK business is realised, so we’ll be doing our best to help you keep up with what’s available.
Can I get help with my business rates due to COVID-19?
Social distancing to help stop the spread of coronavirus COVID-19 has already had a severe impact on the retail, hospitality, nursery and leisure sectors, with lots of people simply staying away.
In light of this, the UK government is introducing a business rate holiday for those industries during the 2020 to 2021 tax year. For retailers, hospitality, leisure and nursery businesses who operate from smaller premises with a rateable value between £15,000 and £51,000, a £25,000 grant will be provided.
If you already don’t pay business rates (or only pay a small amount) because you claim Small Business Rate Relief (SBRR) then you may be able to receive other help. This includes a one-off £10,000 grant to help you with ongoing costs
How do I get help with business rates due to coronavirus?
If you are a larger business who pays business rates, then you should contact your local council authority about the government’s plans for a payment holiday.
Smaller businesses who are eligible for Small Business Rate Relief (SBRR) will be contacted directly by their local council authority, rather than making an application.
If you employ staff, learn more about what COVID-19 means for employers, and the help available to you.