Retail, Hospitality and Leisure Business Rates Relief Scheme
Details have been published of how the Retail, Hospitality and Leisure Business Rates Relief Scheme will work. The scheme only applies to England, and it will only apply for the 2022/23 financial year. The scheme will provide a 50% reduction in business rates for eligible properties up to a limit of £110,000 per corporate group. Eligible occupied properties are those which are wholly or mainly being used as:
- Shops (including charity shops), restaurants, cafes, drinking establishments, cinemas or live music venues.
- For assembly or leisure (including museums, galleries, theatres, sports and leisure facilities, village halls and community centres).
- Hotels, guest and boarding premises or self-catering accommodation.
The relief is calculated after any existing mandatory or discretionary reliefs, so for example a charity shop that is already benefiting from the 80% charity relief will for one year receive an additional 10% relief.