The Government has cut business rates by at least 50 per cent next year for 90 per cent of retail, hospitality and leisure businesses. Any eligible business – such as pubs, gyms, cinemas, restaurants and hotels – can claim a 50 percent discount on their bills, up to a maximum of £110,000 per business.
Taken together with Small Business Rates Relief, that’s a business tax cut worth £7 billion for over 700,000 eligible businesses – the biggest business rates tax cut in 30 years, and which comes on top of the £16 billion of support we have put in place throughout the pandemic.
