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Gloucestershire Business News

Coronavirus: Your business rates for 2020 revealed

Retail, leisure and hospitality may be exempt under measures introduced to deal with the coronavirus pandemic, but other businesses across Gloucestershire are still facing revised rate demands.

Rishi Sunak

Chancellor Rishi Sunak introduced changes which mean many businesses badly hit by the impacts of the fight against the virus will pay no rates during the 2020-21 financial year.

But industries and other sectors not covered by the Chancellor's announcement are still faced with rates demands in the new financial year, which started on April 1.

Moreton-in-Marsh based chartered surveyors Bankier Sloan has again produced reference tables, below, which set out the relief available to small businesses and how much they will need to pay.

Ian Sloan, principle of Bankier Sloan, said: "While the retail sector is not paying any rates, industry still is - these are the figures they are still going to have to pay this year.

Ian Sloan

"I think industry is suffering more than the Chancellor is contemplating at the moment. The local shop is getting relief but the people making the money to keep it alive get nothing."

The Small Business Rates Relief scheme is available to businesses which occupy a single property with a rateable value from £12-15,000 on a sliding scale.

Any firm occupying a single property with a rateable value below £12,000 pays no rates with retail, leisure or hospitality businesses, including pubs and restaurants, will pay nothing for a year to help them survive the impact of coronavirus.

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