×

HOW TO BECOME A CLIENT

1 EMAIL OR CALL US.
2 ARRANGE MEETING.
3 BECOME A CLIENT

If you have any problems, please let us know, by sending an email to info@rmiaccountancy.com. Thank you!

OFFICE HOURS

Mon-Fri 10:00AM - 5:00PM
Saturday by appointment only!

SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!
QUESTIONS? CALL: 0161 9137 958
  • LOGIN
  • SUPPORT

RMI Accountancy

RMI Accountancy

City firm of financial and forensic accountants

T 0161 4137 958
Email: info@rmiaccountancy.com

RMI Accountancy
Blue Tower, Media City, Manchester, M50 2ST

Open in Google Maps
  • HOME PAGE
  • ABOUT US
    • ABOUT US
    • Our Team
    • Our Testimonials and Reviews
  • SERVICES
    • FORENSIC ACCOUNTING
      • Forensic Accounting
      • Forensic Investigation
      • Fraud Risk Assessment
      • Fraud Prevention Plan
      • Forensic Audit
      • Forensic Services Guarantee
      • Forensic Accounting – Posts
    • Accounting Solution
      • Accounting
      • Contractor and Freelancers
      • Tax Planning
      • Payroll
      • Business Growth Analysis
      • Book-Keeping
      • Company Formation
      • Guidance for businesses
    • Media & Celebrities
      • Accountancy for TV, Film, Sports & Media
      • Trusted and Reliable Accountancy Services for Media Clients
      • Wealth Management
      • Property Tax Planning
    • Specialist Accounting Solutions
      • Dental Practices
      • Optical and Pharmaceutical Practices
      • General Medical Practices
  • CASE STUDIES
    • A Success Story
    • Case Studies
    • The Path to Success – Becoming a Client
    • Tax updatesTax updates
    • BLOG & STORIES
  • LIBRARY
  • CONTACT
FREECONSULTATION
  • Home
  • BLOG & STORIES
  • Business Rates
  • Budget 2021: business rate cut for hospitality and leisure
June 2, 2023

Budget 2021: business rate cut for hospitality and leisure

Budget 2021: business rate cut for hospitality and leisure

by admin / Wednesday, 03 November 2021 / Published in Business Rates

As the hospitality industry continues to recover from the pandemic, the Chancellor announced significant discounts on business rates for specific sectors for the next 18 months

Over 90% of retail, hospitality and leisure businesses will receive at least 50% off their business rates bills in 2022-23.

To support local high streets as they adapt and recover from the pandemic, the government is introducing a new temporary business rates relief in England for eligible retail, hospitality and leisure properties for 2022-23, worth almost £1.7bn.

Up to 400,000 retail, hospitality and leisure properties will be eligible for the new, temporary £1.7bn of business rates relief next year. This will provide support until the next revaluation, helping the businesses that make UK high streets and town centres successful evolve and adapt to changing consumer demands.

Apart from reliefs in response to Covid-19, this is the biggest single-year cut to business rates in 30 years.

Chris Sanger, EY head of tax policy, said: ‘The Chancellor announced a number changes to business rates, which fell short of what some had called for. Nevertheless, business rates were cut in half for a further year for those in the retail, hospitality and leisure business, including local pubs. The half price offer for the next year will help, but does not address the long-term issue.’

The government is also freezing the business rates multiplier in 2022-23, a tax cut worth £4.6bn over the next five years. This will support all ratepayers, large and small, meaning bills are 3% lower than without the freeze.

From 2023, a new business rates relief will support investment in property improvements so that no business will face higher business rates bills for 12 months after making qualifying improvements to a property they occupy.

This will enable businesses to make improvements to their premises that support net zero targets, such as installing solar panels, and enhance productivity as employees return to the workplace.

From 2023, the government will introduce exemptions for eligible plant and machinery used in onsite renewable energy generation and storage, and a new 100% relief for eligible heat networks, to support the decarbonisation of buildings.

0
  • Tweet
Tagged under: Business, Rates

About admin

What you can read next

Government announces review of business rates scheme
Rates rise to pile more pressure on SMEs
Autumn Statement 2022: £13.6bn business rate support

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Redundancy protection extended for parents

    Parents and unpaid carers are due to receive ne...
  • HMRC issues scam warning to tax credits claimants

    Tax credit claimants need to be on their guard ...
  • Late interest penalties hit 1.4m taxpayers

    More than 1.4 million taxpayers had to pay inte...
  • Landlord registration plan will drive HMRC investigations

    The launch of a landlord database outlined in t...
  • Airbnb owners will have to pay VAT on rentals across EU

    An overhaul of EU rules will affect Airbnb land...

Recent Comments

    Archives

    • May 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • December 2018
    • November 2018
    • January 2018
    • November 2015
    • August 2015

    Categories

    • Accounts
    • Annual Investment Allowance
    • Bounce back loan
    • Brexit
    • Budget
    • Budget 2021
    • Business grants
    • Business Rates
    • Business Support Finder Tool
    • Capital gains tax
    • Carer's Leave
    • Corporation Tax
    • Covid booster programme
    • Covid Restrictions
    • Eat Out to Help Out
    • Employment
    • Filing Deadlines
    • Flexible working
    • Fuel Rates
    • Furlough scheme
    • HMRC
    • Home Working Tax Relief
    • Inflation
    • Inheritance Tax
    • Interest Rates
    • IR35
    • Job Retention Scheme
    • Job Support Scheme
    • Kickstart Scheme
    • Making Tax Digital
    • Mobile
    • National Insurance
    • National Wage Rates
    • Networking
    • PAYE
    • Pension
    • Recovery Loan Scheme
    • Research & Development
    • Self Assessment
    • self employed scheme
    • Stamp Duty
    • Statutory Sick Pay (SSP)
    • Tax Credits
    • Tax Fraud
    • Tax Investigation
    • Tax Relief
    • Tax return
    • Technology
    • Uncategorized
    • VAT
    • Virtual Accountancy Services
    • Working Tax Credit

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Featured Posts

    • Redundancy protection extended for parents

      0 comments
    • HMRC issues scam warning to tax credits claimants

      0 comments
    • Late interest penalties hit 1.4m taxpayers

      0 comments
    • Landlord registration plan will drive HMRC investigations

      0 comments
    • Airbnb owners will have to pay VAT on rentals across EU

      0 comments

    GET A FREE QUOTE

    Please fill this for and we'll get back to you as soon as possible!

    FOOTER MENU

    • About us
    • Our Team
    • Forensic Accounting
    • Tax Planning
    • TV, Film, Sport and Media
    • Wealth Management
    • Case Studies
    • Advisory
    • Contact Us

    NEWSLETTER SIGNUP

    By subscribing to our mailing list you will always be update with the latest news from us.

    We never spam!

    GET IN TOUCH

    T (0161) 4137958
    Email: info@rmiaccountancy.com

    RMI Accountancy
    Blue Tower, Media City, Manchester, M50 2ST

    Open in Google Maps

    © 2019-2020. All rights reserved. Web Design - by Web & Print Media

    TOP
    Skip to toolbar
    • About WordPress
      • WordPress.org
      • Documentation
      • Support
      • Feedback
    • Log In