Retail Hospitality and Leisure Business Rates Relief Scheme 2023/24
In the 2022 autumn statement, the Chancellor announced changes to the business rates from 1 April 2023.
An increase in the amount of retail discount payable from 50% to 75% for qualifying businesses. This is subject to a cap of £110,000 total relief per business.
Relief will be provided to eligible occupied retail, hospitality and leisure properties in 2023/24. Your current rates bill includes this relief should you be entitled.
In line with the conditions set by the government, a ratepayer may only claim up to £110,000 of support under the 2023/24 Retail, Hospitality and Leisure Relief Scheme for all of their eligible hereditaments. This cash cap applies at a Group company level (so holding companies and subsidiaries cannot claim up to the cash cap for each company) and also to organisations which, although not a company, have such an interest in a company that they would, if they were a company, result in its being the holding company.
Furthermore, the Retail, Hospitality and Leisure Relief Scheme is subject to the Minimal Financial Assistance limit of £315,000 over three years (including 2023/24).
Therefore, to claim the Retail, Hospitality and Leisure relief you must not have exceeded either the £110,000 cash cap for 2023/24 or the Minimal Financial Assitsance limit of £315,000 over three years (including 2023/24).