Purpose

This
report covers new business rate relief that the Government has
announced for 2024/25.
The
2024/25 Retail, Hospitality and Leisure Business Rates Relief
Scheme will provide eligible, occupied, retail, hospitality and
leisure properties with a 75% relief, up to a cash cap limit of
£110,000 per business. This scheme will operate for the
2024/25 year only.
As the scheme is designed for a limited period only, the
Government is not making changes to legislation, but instead
providing detailed guidance, and asking local authorities to use
powers under s47 of the Local Government Finance Act 1988 to set up
the schemes. Government will then fully repay the cost of relief
awarded in line with their guidance.

Decision

This
report covers new business rate relief that the Government has
announced for 2024/25.
The
2024/25 Retail, Hospitality and Leisure Business Rates Relief
Scheme will provide eligible, occupied, retail, hospitality and
leisure properties with a 75% relief, up to a cash cap limit of
£110,000 per business. This scheme will operate for the
2024/25 year only.
As the scheme is designed for a
limited period only, the Government is not making changes to
legislation, but instead providing detailed guidance, and asking
local authorities to use powers under s47 of the Local Government
Finance Act 1988 to set up the schemes. Government will then fully
repay the cost of relief awarded in line with their
guidance.