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Business Rates

COVID-19 RESPONSE

The Government on Tuesday announced a huge package of support for the country’s business community in light of the impact of the Coronavirus on the UK economy. Guidance from the government is only now starting to be circulated to local government and this note will be updated as more information comes to light.

Firstly, certain businesses that occupy properties will now have a one-year business rates holiday for 2020/21; regardless of rateable value. If you were already receiving a retail discount (33%) this will now be increased to 100% relief. In addition to retail properties however, this relief has been expanded to include both the leisure and hospitality sectors. By way of example these additional categories include:

  • Shops, restaurants, cafes, drinking establishments, cinemas and live music venues.

  • Live music venues and leisure facilities, public halls, clubhouses, clubs and institutions,

  • Hotels, guest & boarding premises and self-catering accommodation.

Secondly, for those businesses who are in the retail, hospitality and the leisure sectors, with a rateable value between £15,000 and £51,000 (i.e. operating from smaller premises); they will be entitled to a cash grant of up to £25,000. At this time it is understood that there is a taper on this amount depending on the actual rateable value of the business concerned.

Thirdly, all businesses in receipt of small business rates relief, regardless of sector, will be entitled to a cash payment of £10,000.

The Council wishes to support its business community in all the ways it can, this advice will be updated as soon as we know more. If you believe you are eligible for one of the above cash grants, please remember we will be able to identify you from current rateable value records and we will be in touch with you in due course; consequently please avoid contacting us directly.

This page provides information about business rates and what they are about.

Non-Domestic Rates, or business rates, collected by local authorities are the way that those who occupy non-domestic property contribute towards the cost of local services. Under the business rates retention arrangements introduced from 1st April 2013, authorities keep a proportion of the business rates paid locally. This provides a direct financial incentive for authorities to work with local businesses to create a favourable local environment for growth since authorities will benefit from growth in business rates revenues. The money, together with revenue from council tax payers, revenue support grant provided by the Government and certain other sums, is used to pay for the services provided by local authorities in your area. Further information about the business rates system, including transitional and other reliefs, may be obtained at www.gov.uk.

Business Rates are dealt with by our Revenues team, who also deal with Council Tax.

The Council's business rates web pages cover the main information about business rates, plus any announcements about upcoming legislative changes, for detailed information on business rates please go to the Business Link Website. The Business Link website contains information about all aspects of starting and running a business.

The information leaflets for Leicestershire County Council, The Office of the Police and Crime Commissioner for Leicestershire and Leicestershire Fire and Rescue can be found in the Related Links below.

The information leaflet for Oadby and Wigston Borough Council can be found in Related Documents below.

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