HELP WITH COMMERCIAL RENTS AND BUSINESS RATES
EXTRA HELP AVAILABLE FOR SMALL AND PARTICULARLY VULNERABLE BUSINESSES
If you have any questions, please get in touch with our COVID-19 Task Force here
RELEVANT AS OF 1:00PM 30th march
The Government has taken steps to support commercial tenants who remain concerned about eviction from their business premises. We know this will be a particular concern for businesses who have now been told to close by the government.
Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction. The measures being introduced will mean no business will be forced out of their premises if they miss a payment in the next three months.
The tenant will remain liable for the rent though and so will need to remain in dialogue with their landlord.
This guarantee has now come into force as the Coronavirus Bill has received Royal Assent. It will initially last until 30 June, but with the option to extend it if the Government see fit.
There are other ways the government is helping out businesses with financial support that they won’t need to repay.
Those of you based in England and operating in the retail, hospitality and leisure industries won’t pay business rates for 2020/21. This will broadly apply to properties in England that are occupied:
As shops, restaurants, cafes, drinking establishments, cinemas and live music venues
For assembly and leisure
As hotels, guest & boarding premises and self-catering accommodation
There’s nothing for you to do to get this relief – your local authority will deal with it for you.
Some of you will qualify for cash grants, too. For businesses in the same industries mentioned above, grants will be available as follows:
£25,000 per property with a rateable value between £15,001 and £51,000
£10,000 per property with a rateable value of under £15,000
In addition, businesses in any industry that pay little or no business rates will also be given a grant of £10,000. This applies to businesses already claiming small business rate relief, rural rate relief or tapered relief.
Your local authority will write to you if you are eligible for these grants. They are being provided with guidance on this soon from the government. There’s nothing you need to do. Further guidance can be found here.
What if I run a children’s nursery?
Properties that are occupied by providers of Ofsted’s Early Years Registration or are wholly or mainly used for the provision of the Early Years Foundation Stage will get a business rates holiday for the 2020/21 tax year. Again, if you qualify this will be applied automatically by your local authority so there is nothing you need to do to get this help.
And don’t forget….
The above measures are in addition to those that have already been announced, which includes: