Summary:
The Back in Business rate support scheme offers businesses a 50% rates discount for up to two years if they occupy a vacant retail unit.
Eligibility criteria:
To benefit from the scheme you must meet the following eligibility criteria:
- you have occupied business premises on or after 1 April 2022
- the business premises you now occupy were previously vacant for a minimum of 12 months prior to the date you occupied the property
- the business premises was previously valued for rates and used for retail purposes, or;
- if premises were never occupied you may still be entitled if the premises could reasonably have been used for retail purposes.
“Retail purposes” means the retail provision of goods or services to members of the public who visit the property.
Additional information:
The rates discount of 50% is granted for 24 months beginning on the day which the retail unit becomes occupied.
The scheme is now open for applications until 31 March 2023.
Read more here: Back in Business rate support | nibusinessinfo.co.uk
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