Coronavirus update – Recovery Loan Scheme and proposed Business Rates relief fund – 08/04/2021
|Recovery Loan Scheme|
As notified in our Update of 4th March, and further explained in our Budget Summary, the Recovery Loan Scheme has now opened.
For further details, and list of accredited lenders, Click Here
Proposed Business Rates Relief Fund
-Businesses in the retail, hospitality and leisure sectors have had 100% rates relief as part of the pandemic support. Some businesses outside those sectors have submitted rates appeals under the provisions of ‘ material change in circumstances’ (MCC).
-HM Treasury has announced that the Government will be legislating to rule out MCC appeals due to the pandemic, but, instead, are The funding will allocating a £1.5 billion fund to provide rates relief for businesses outside the qualifying sectors, but affected by the pandemic.
-The funding will be allocated to local authorities, who will make individual awards. The Government is working to enable applications to be made as soon as possible this year.
For the full text of the announcement of the new Business Rates Relief Fund, Click Here