Welcome boost for smaller retailers.

The Budget included measures to increase the 50% Retail Rates Relief announced earlier this year to 100% from April 2020.

This relief will be extended to include retail, leisure and hospitality sectors, meaning a full relief for those with a rateable value under £51,000 in these sectors. Additionally, small business that qualify for 100% Small Business Rate Relief will be eligible for Small Business Grant Funding of £3000 via local authorities.

From April 1 2020 a one year business rates discount of £5000 will be available for pubs with a rateable value below £100,000.

The Government has also announced a fundamental review of business rates which will report in Autumn 2020

Article from ACCA In Practice