COVID-19 Business rates holiday in the UK
May 18, 2020
The UK Government has announced that there will be a 12 month business rates holiday for retail, hospitality and leisure businesses for the 2020-2021 tax year. There is no rateable value limit for the relief. This means that no business rates will be payable for these properties during this period. This is a significant saving, given that an average occupier pays annual business rates equal to 50% of its annual rent. The overall cost of the scheme to HMRC is estimated to be £32 billion.
Related Professionals
