Changes to business rates
Retail, Hospitality and Leisure
At the budget in October 2022 the Chancellor announced the introduction of a new business rates relief scheme for retail, hospitality and leisure properties. This will support the businesses that make our high streets and town centres a success and help them to evolve and adapt to changing consumer demands. The 2023/24 Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied, retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business.
Retail discount will be awarded automatically where the qualifying criteria are clearly satisfied.
The cash caps apply at a group company level (holding companies and subsidiaries cannot claim up to the cash cap for each company) and 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.
Find further details of the discount and the cash caps at 2022/23 Retail, Hospitality and Leisure Relief Scheme on GOV.UK.
You will need to inform the authority, on a self-assessment basis, if you are in breach of the cash caps. If you have exceeded the cash cap on other properties and wish to refuse to receive the expanded retail discount granted in relation to the premises to which this bill and letter relates.