If you are a retail, hospitality and leisure business in Aldershot or Farnborough, you may be able to get a discount on your business rates for 2023/24.
About the business rates discount
At the budget on 27 October 2021, the Chancellor announced that the government would provide additional business rates support for eligible retail, hospitality and leisure businesses in England occupying a qualifying property.
As a temporary measure for 2022/23 the Chancellor announced that for the financial year 1 April 2022 to 31 March 2023, the expanded retail discount would apply at 50% relief for eligible properties in the scheme, with a cash cap of £110,000 across all of the properties for any one business.
You can also see ourfor more information.
In the Autumn 2022 budget, the chancellor announced a new scheme from 1 April 2023, which would apply a 75% relief for eligible properties in the scheme.
To be eligible for this discount, the retail premises must:
- Be occupied
- Be wholly or mainly used as shops, restaurants, cafes, drinking establishments, cinema, live music venues, hotels, guest and boarding premises, self-catering accommodation, sport and leisure facilities, tourist attractions, community halls and clubhouses used by for assembly and leisure by visiting members of the public
Further information about this discount can be found on GOV.UK. Our Cabinet will be asked to approve the council's updated policy in March 2023.
Applying for the discount
We will be automatically awarding eligible businesses a retail discount for 2022/23 and 2023/24 financial years. All businesses that receive the discount will receive a bill showing their reduced business rates.
Businesses that receive the discount will receive a revised bill showing their reduced business rates payable.
If you receive money from this scheme, it is likely that it will be seen as a subsidy from the government.
That means that you will need to make sure you meet the UK’s domestic and international subsidy control rules around the payment.
Please read through the guidance from the Department for Business and trade Energy to understand more about the subsidy rules and how it may affect your business.
If you have automatically received this discount and would like to opt-out of the discount scheme or require further details, then please notify our business rates team using the contact details below.