At the Autumn Budget on 30 October 2024 the Chancellor announced the extension of the business rates relief scheme for 2025/26 for eligible and occupied retail, hospitality, and leisure (RHL) properties. This will provide these properties with a 40% relief up to a cash cap limit of up to £110,000 per business.
As well as the cash cap, the Retail, Hospitality and Leisure Relief Scheme is subject to the Minimal Financial Assistance limits under the Subsidy Control Act. This means no recipient can receive over £315,000 over a three-year period (consisting of the current financial year and the two previous financial years). Covid business grants received from local government and any other subsidy claimed under the Minimal Financial Assistance or Small Amounts of Financial Assistance limit over the three-year period should be counted.
The government has issued guidance on the operation of the scheme, which can be found here.
Accounts which are eligible for this discount have been identified and the discount will be shown on your annual bill. However, for new ratepayers, or if you believe you are entitled to the discount, but it does not appear on your bill, please contact us by emailing business.rates@ipswich.gov.uk