This website uses cookies to ensure you get the best experience. Please read our policies for more information.

10 Chartered Accountants

News

Business rates review report delayed
22 March 2021

The Government has announced that the final report of its fundamental review of business rates will be delayed and will be published in the autumn.

It says that by then there should be greater clarity about the economic situation and the future of the public finances.

The review was announced by Rishi Sunak at his Budget a year ago and a call for evidence was published last July.

A summary of responses to this call for evidence is set to be published in an interim report on 23 March 2021.

Business rates have become a politically charged topic with online retailers generally paying much less in business rates than their high street counterparts do.

Online retailers have been able to continue trading throughout the pandemic while most high street retailers have been forced to close for months or weeks at a time.

To continue to support businesses, the Government announced in the 2021 Budget that it will continue to provide eligible retail, hospitality and leisure properties in England with 100 per cent business rates relief from 1 April 2021 to 30 June 2021.

This will be followed by 66 per cent business rates relief for the period from 1 July 2021 to 31 March 2022, capped at £2 million per business for properties that were required to be closed on 5 January 2021, or £105,000 per business for other eligible properties.

This means that 750,000 retail, hospitality and leisure properties in England will continue to pay no business rates for a further three months from 1 April 2021, with the vast majority of eligible businesses receiving 75 per cent relief across the year.

Link: Business Rates Review Update

Other recent news

Should I register for VAT in the EU?
08 April 2021

If you wish to trade with the EU following the…
Read more

Do I need to set up an EU subsidiary?
08 April 2021

“Should I set up a company in the EU” is…
Read more

Coronavirus Restart Grant
07 April 2021

Businesses in the non-essential retail, hospitality, leisure, personal care and…
Read more

What is an EORI number and how do I get one?
01 April 2021

If you move goods between Great Britain and the EU,…
Read more

Just months left to secure right to work under EU Settlement Scheme, businesses warned
26 March 2021

There are now just two months left to apply to…
Read more

»

Case Studies