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Spring Budget 2020—Government to increase retail discount to support small businesses

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Published on: 11 March 2020

Published by LNB News

LNB News 11/03/2020

Document Information

Issue Date: 11 March 2020

Published Date: 11 March 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Chancellor, Rishi Sunak, has confirmed that for a period of one year, the business rates retail discount will increase from one third to 50% for properties with a rateable value below £51,000 in England starting from 1 April 2020. Government has confirmed that the discount will be expanded to include cinemas and music venues. Additionally, the retail discount will be increased to 100% and expanded to include hospitality and leisure businesses for 2021 in an attempt to support small businesses in response to Coronavirus (COVID-19). Bryan Johnston, partner and head of the Property Litigation team at Dentons, has commended the announcement.

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