Non-domestic Rates: Coronavirus

(asked on 18th May 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of raising the £51,000 business rates limit for covid-19 support grants for businesses in line with the variation in property values in England.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 2nd June 2020

The business grants schemes have been designed to help small businesses. £51,000 is the accepted threshold in the business rates system for a “small” business, as only businesses which occupy properties with a rateable value of less than £51,000 can benefit from the Small Business Multiplier rate. This threshold applies across England, thus providing a straightforward existing basis which Local Authorities can use to issue grants.

Larger businesses may have access to other forms of support which the Government has announced, such as the Coronavirus Business Interruption Loan Scheme and the Coronavirus Job Retention Scheme. In addition, there is no rateable value limit on the business rates holiday for the retail, hospitality and leisure sectors.

The Government continues to monitor the economic situation and is keeping support for businesses and other organisations under review.

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