New £1.5bn Business Rates Relief Fund

The Treasury has announced a new fund for businesses not previously eligible for the Retail, Hospitality and Leisure Business rates relief.

The announcement states that the funding will be distributed according to official data on the impacts of the pandemic on different sectors to ensure an even and more proportionate allocation of support across England based on the economic impacts of COVID-19.

The funding will be allocated to local authorities based on the stock of properties in the area whose sectors have been affected by COVID-19. Local Authorities will then use their knowledge of local businesses and the local economy to make awards.

The NCC lobbied for tourism-reliant businesses that missed out on Business Rates Relief previously to be included, and will update members when more details become available.