Business rates relief and exemptions

Business Rates Relief: 2023/24 Retail, Hospitality and Leisure Relief scheme.

At the Autumn Statement on 17 November the Chancellor announced the introduction of a new business rates relief scheme for retail, hospitality and leisure properties worth around £2.1 billion in 2023 to 2024.

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.

Which properties will benefit from relief?

• Hereditaments which benefit from the relief will be those that have chargeable days from 1 April 2022 to 31 March 2023.
• Hereditaments that are being used for the sale of goods to visiting members of the public
• Hereditaments that are being used for the provision of the following services to visiting members of the public
• Hereditaments that are being used for the sale of food and/or drink to visiting members of the public
• Hereditaments that are being used as live music venue
• Hereditaments which are being used as cinemas
• Hereditaments that are being used for the provision of sport, leisure and facilities to visiting members of the public (including for the viewing of such activities)
• Hereditaments that are being used for the assembly of visiting members of the public
• Hereditaments where the non-domestic part is being used for the provision of living accommodation as a business
• Hereditaments that are being used for the provision of the following services to visiting members of the public
• The Ratepayer (together with any other companies in the same Group) shall not receive more than £110,000 of the Retail, Hospitality and Leisure Relief Scheme for eligible properties within 2022/23 and shall not receive more than £343,000 in total of Small Amounts of Financial Assistance over three years (including 2022/23)

The ratepayer for that chargeable day has not refused the relief for the eligible hereditament. The ratepayer may refuse the relief for each eligible hereditament anytime up to 30 April 2023. The ratepayer cannot withdraw their refusal for either all or part of the financial year.

Section 115(1) of the General Rate Act 1967 defines a hereditament as being 'A property which is or may become liable to a rate, being a unit of such property which is, or would fall to be, shown as a separate item in the valuation list'.

If you wish to opt out of the scheme, you can do so by completing the Cash cap and exemption threshold declaration form.