Council announces its help for local businesses affected by Coronavirus

Some local business properties will not be asked to pay their business rates this year.

These will be businesses classed as day nurseries, retail, leisure and hospitality including all those defined in the government guidance such as employment agencies and estate agents.

Cotswold District Council is arranging for these businesses to have one hundred per cent business rate relief for 2020-21 as per government guidance.

There will also be an additional cash grant of £10,000 for businesses in these sectors with a rateable value of under £15,000, and £25,000 for businesses in these sectors with a rateable value of between £15,000 and £51,000. 

For all business in receipt of small business rate relief or rural rate relief, there is also a separate grant of £10,000. 

For clarity, businesses in the retail, hospitality and leisure sectors that are also in receipt of small business rate relief only qualify for one grant of £10,000.

The council is aiming to have its processes in place to grant the new relief and award any grants, by early April. 

Businesses do not need to do anything at present.

To help businesses, the council will not be collecting any Business Rates payments by direct debit during April 2020. Instead, this payment will be deferred until all appropriate reliefs and grants have been applied.

For those businesses that pay their business rates from April to January, this change will mean that payment instalments will move from May to February.

For those businesses that pay their business rates from April to March, this change will mean that payment instalments will move from May to March.

If a business wishes to retain its 12 instalments then April instalments can be paid online at: https://www.cotswold.gov.uk/make-a-payment/

Cllr Mike Evemy, Deputy Leader and Portfolio Holder for Finance, said: “We want to help our local businesses weather the Coronavirus storm so that they’re there for us when we get through this. That’s why we’ve stopped collecting business rates from day nurseries and the retail, leisure, hospitality sectors.

 “We’ll also be giving out cash grants of £10,000 for businesses in these sectors with a rateable value of under £15,000, and £25,000 for businesses in these sectors with a rateable value of between £15,000 and £51,000. 

“We expect to see businesses receiving these in early April.

“Local businesses can find more information at https://www.cotswold.gov.uk/coronavirus-business and I urge them to sign up to the Business Matters newsletter to receive regular updates.”