4. Expanded retail discount
From 1 April 2020 to 31 March 2021 occupiers of property mainly used by visiting members of the public in the retail, hospitality & leisure sectors, may qualify for a 100% rates discount, provided they meet certain criteria.
- Businesses that provide financial, medical, legal & accounting services are not eligible retail businesses.
- Businesses that provide support services in the retail, hospitality & leisure sectors, with little or no direct interaction with visiting members of the public, are not eligible for this discount.
Update announced in the 3 March 2021 Budget
The government announced that property used for eligible retail, hospitality and leisure business will continue to receive the 100% discount from 1 April 2021 to 30 June 2021.
This will be followed by 66% business rates relief for the period 1 July 2021 to 31 March 2022, capped at £2m per business for properties that were required to close on 5 January 2021, or capped at £105,000 per business for property that could remain open.
Government guidance is available in the business rates section of their website.
If you do not want to receive the Expanded Retail discount or if you will exceed the cash cap you can opt out. However once you have asked to opt out you cannot change your decision.
To opt-out please complete our opt-out form.