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Business rates reliefs
27 January 2020
Type
Written Ministerial Statement
Department
Treasury
At a Glance
Issue Summary
The statement addresses business rates reliefs, focusing on increases and extensions of discounts for various sectors.
Action Requested
The Government is increasing the retail discount to 50% for eligible businesses in England, extending it to music venues and cinemas, providing an additional £1,000 discount for pubs, and extending the local newspapers office space discount until March 2025. Local authorities are expected to implement these changes promptly.
Key Facts
- The retail discount will be increased from one-third to 50% in 2020/21.
- The extension of the £1,500 business rates discount for local newspapers office space applies until March 31, 2025.
- Eligible pubs with a rateable value less than £100,000 will receive an additional £1,000 discount in 2020/21.
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