The Prime Minister has announced that business owners significantly affected by the recent flooding will have immediate relief on their business rates.
Businesses that have been affected will be eligible for 100% relief on their business rates for ‘at least’ the next three months, according to a Government release published this morning.
Around 115 flood warnings are in place after more heavy rain fell on Thursday night. Warnings are in place in several parts of the UK, with some of the worst affected areas being in parts of Yorkshire, Derbyshire, Nottinghamshire and Lincolnshire.
ACS chief executive James Lowman said: “These reliefs will help many affected businesses with their recovery after the floods that have devastated communities across the UK. We urge the Government to make clear the eligibility criteria and process for applying for relief as soon as possible.”
The announcement follows a series of other measures aimed at helping small businesses to recover from the impact of flooding, including:
- The Department for Business, Energy and Industrial Strategy (BEIS) is providing funding for a Business Recovery Grant which will provide up to £2,500 per eligible small and medium-sized businesses which have suffered severe impacts from the floods that cannot be recovered from insurance.
- The Department for Environment, Food and Rural Affairs (Defra) has extended its Farming Recovery Fund to support farmers badly affected by the recent flooding. Through this scheme, farmers and land managers who have suffered uninsurable damage to their property will be able to apply for grants of between £500 and £25,000 to cover repair costs.
The Ministry of Housing, Communities and Local Government have confirmed that affected businesses will have to apply to their local council to receive the 100% relief on their business rates, but have not yet published details of how eligibility for the reliefs will be determined.
The full announcement is available here: https://www.gov.uk/government/news/government-announces-business-rates-and-council-tax-relief-following-severe-flooding
