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COVID-19 update on business rates

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Sheffield City Council recognises that businesses are facing unprecedented times. We will do everything we can to help businesses survive and mitigate the impacts on their workforce.

The situation is unfolding very rapidly so it is vital that businesses are helped with up to date and accurate information to help them receive the support that will be on offer, nationally and locally. This will include:

    • a statutory sick pay relief package for SMEs

 

    • a 12-month business rates holiday for all retail, hospitality and leisure businesses in England

 

    • small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief

 

    • grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000

 

    • the Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance

 

    • the HMRC Time To Pay Scheme



Full details can be found at: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses.

In order to properly reflect the Government's emerging schemes we are delaying the start of our 2020/21 business rate collection.  No business rates payments will be requested in April until we have more detail from Government of how to administer the reliefs and grants. The earliest we will request payment is May.

We hope to rebill these businesses during April to reflect the Governments schemes.  If anybody is in difficulty then please get in touch with the business rates team on 0114 273 4318 or business.rates@sheffield.gov.uk.

Our team of business advisors will be on hand over the coming weeks and months to help businesses navigate their way through the support that will be available.  Our advisors can be contacted on 0114 224 5000 or businesssheffield@sheffield.gov.uk