Expanded Retail Discount

Retail Discount is for occupied properties that are wholly or mainly being used as:

• shops, restaurants, cafés, drinking establishments, cinemas, and live music venues
• assembly and leisure properties.
• hotels, guest houses, and self-catering accommodation

The levels of Retail Discount are as follows:

• 100% for the period 1 April 2021 to 30 June 2021
• 66% for the period 1 July 2021 to 31 March 2022
• 50% for the period 1 April 2022 to 31 March 2023
• 75% for the period 1 April 2023 to 31 March 2024

About the Scheme

In the Autumn Statement on 17 November 2022, the Chancellor announced a new Business Rates relief scheme. This is specifically aimed at Retail, Hospitality, and Leisure properties.

This scheme, worth approximately £2.1 billion in 2023/24, aims to support these businesses in our high streets and town centres. This will help them thrive and adapt to changing consumer demands.

Under the 2023/24 Business Rates Relief scheme, eligible retail, hospitality, and leisure properties that are occupied can receive a 75% relief. There is a cash cap limit of £110,000 per business.

It's important to note that this relief scheme may be considered a subsidy. To claim the relief, businesses must ensure they have not exceeded the permitted UK Subsidy threshold. This is outlined in the Small Amounts of Financial Assistance Allowance (SAFA).

Ultimately, it is the responsibility of the business, through self-assessment. This is to ensure that by accepting the relief, they stay within the Cash cap and SAFA threshold limits.

Exclusions

Your business will not qualify for the Government's discount if the property is used to provide the following services to the general public:

• financial services, such as:
  • banks
  • building societies
  • cash points
  • bureaux de change
  • short-term loan providers
  • betting shops
    
    
• medical services, such as
  • vets
  • dentists
  • doctors
  • osteopaths
  • chiropractors
    
    
• professional services, such as
  • solicitors
  • accountants
  • insurance agents / financial advisers
  • employment agencies
  • estate agents
  • letting agents
    
    
• Post Office sorting offices
• or are not reasonably accessible to visiting members of the public

Can I reduce or refuse the amount of relief awarded?

If you exceed the UK Subsidy threshold or the SAFA, you should promptly inform us. This is so we can remove the Retail, Hospitality, and Leisure Relief from your Business Rates account.

Please be aware that once you refuse the relief, it cannot be reinstated. Your business will then be considered ineligible for the entire financial year.

If you believe your business qualifies for the scheme but hasn't been awarded the relief, please contact us by using the Business Rates contact form.