Mar 11, 2020

Budget 2020: Rates scrapped for shops and cafes

Tens of thousands of retail, leisure and hospitality sector firms will not pay any business rates this year, the chancellor has announced in the Budget. Mr Sunak described the business rates holiday as an "Exceptional step". Businesses have been calling for a review of business rates for several years, arguing they make it hard for bricks and mortar retailers to compete with online rivals. The measures will not apply to bigger retailers and leisure chains, some of whom have also criticised the business rates system. The chancellor said business rates as a whole would be reviewed later in the year.

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