Following the £16 billion relief provided by the government to sectors such as retail, leisure and hospitality through the Expanded Retail Relief Discount, many sectors, like the office sector, are yet to receive any support.
Today, Ministers have set out a support plan to target those who were unable to benefit from the business rates relief given to the retail, leisure and hospitality sectors. The government has made it very clear that business rate appeals lodged for material changes of circumstances due to Covid-19, will only be properly considered at general rates revaluations. Therefore, any appeals lodged specifically due to Covid-19 will be ruled out.
Instead, the government are to provide a £1.5 billion pot to be divided amongst the local authorities across the country. The relief will be distributed to those sectors which have suffered the most economically, as opposed to those where their properties have fallen in value.
Furthermore, support will not be distributed to businesses whose offices have dropped in value due to less occupancy or demand, but to businesses which have physically lost income due to the impact of the Covid-19 pandemic. This avoids taxpayer’s support going to businesses which have had the ability to operate ‘normally’, despite remote working circumstances.
If you are a landlord or occupier requiring business rates advice or recommendations on grants, relief and exemptions available to you, CPRA are specialists in all rating matters, including mitigation and appeal work. Feel free to contact our business rates department on 020 7770 8000 or email email@example.com.