After this period, 66% business rates relief will apply between 1 July 2021 and 31 March 2022, capped at £2m per business for properties that were required to be closed on 5 January 2021, or £105,000 per business for other eligible properties.
The Chancellor also announced an extra £740m in funding for the Welsh Government, which has yet to announce any extension on business rates relief in Wales.
Business Rates Director, Andrew West commented, “The extension to the relief is logical and welcome. However, it will inevitably be compared with the equivalent scheme in Scotland, where it was previously announced the relief will be extended for the full rate year.
“The Welsh Government have yet to make an announcement, but it is hoped they will align with Scotland rather than England and consider extending targeted relief to other beleaguered sectors such as aviation.”