Retail, hospitality and leisure relief scheme 2024/2025
At the autumn statement, the Chancellor confirmed that the business rates relief scheme for retail, hospitality and leisure properties will continue for 2024/2025. The relief is to support the businesses that make our high streets and town centres a success and to help them evolve and adapt to changing consumer demands. The scheme will give eligible, occupied properties 75 per cent relief, up to a cash cap limit of £110,000 per business.
2024/2025 Retail, hospitality and leisure business rates relief scheme details and criteria.
To discuss your businesses eligibility please contact the business rates team on 01242 264255 or email [email protected]
The cash cap and subsidy control
In line with the conditions set by the government, a ratepayer may only claim up to £110,000 of support under the 2024/25 Retail, hospitality and leisure relief scheme for all of their eligible hereditaments. This cash cap applies at a group company level (so holding companies and subsidiaries cannot claim up to the cash cap for each company) and also to organisations which, although not a company, have such an interest in a company that they would, if they were a company, result in its being the holding company.
Furthermore, the Retail, hospitality and leisure relief scheme is subject to the Minimal Financial Assistance limits under the Subsidy Control Act. This means no recipient can receive over £315,000 over a three-year period (consisting of the current financial year and the two previous financial years). Covid business grants received from local government and any other subsidy claimed under the Minimal Financial Assistance or Small Amounts of Financial Assistance limit over the three-year period should be counted.
Therefore, to claim the Retail, hospitality and leisure relief you must not have exceeded either the £110,000 cash cap for 2024/25 or the Minimal Financial Assistance limit of £315,000 over three years (including 2024/25).
Find further details of the cash cap and subsidy control on GOV.UK.