Spring Budget delivers further COVID-19 support, while long-term business rates reform is postponed until the Autumn Budget.
08 Apr 2021, 2 min read
The Spring Budget announced on the 3 March provides extensions to existing COVID-19 support, including through its business rates holiday for retail, hospitality and leisure businesses, as well as airports. It also re-iterated the commitment made at the 2020 Spending Review of freezing the business rates multiplier (the UBR) for 2021-2022.
- The retail, hospitality and leisure relief extended at 100% business rates relief to 30 June, followed by 66% relief from 1 July to 31 March 2022, capped at £2m per business for properties that were required to be closed on 5 Jan 2021, or £105k per business for other eligible properties
- Support for airports – renewing the Airports and Ground Operations Support Scheme for a further six months from the start of 2021-22. Cap per claimant of £4m
- The government has frozen the business rates multiplier in England for 2021-22 with effect from 1 April 2021. Without the freeze, the small business multiplier would have risen from 49
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