7 minute read 6 May 2020
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COVID-19 and business rates: FAQs on UK government support and reliefs

By

EY UK

Multidisciplinary professional services organisation

7 minute read 6 May 2020
Related topics COVID-19 Tax Finance

Business rates represent a significant cost to many UK businesses. Due to the nature of how business rates are set and administered, they are a fixed recurring cost that must be paid on UK commercial property regardless of business performance or profitability. 

The Government has used the business rates system to help support some businesses with the impact of COVID-19. This support has been focused on certain sectors and property types, so this document aims to provide an overview of the measures provided and which businesses can benefit.  

In addition, these FAQs also provide an outline of some pre-existing measures in the rates system which businesses should consider. These measures together with a broader strategy on business rates may provide cash generation opportunities and help improve short term cash flow.  


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Summary

The contents of these FAQs are not intended to be exhaustive but aim to cover the main points that have been raised by clients and businesses. If you have property, businesses or sector specific questions the EY business rates team is available to discuss these with you in further detail. 

About this article

By

EY UK

Multidisciplinary professional services organisation

Related topics COVID-19 Tax Finance