Basingstoke and Deane businesses to receive financial support from council
Business rates suspended for many companies
BUSINESSES struggling with their finances as a result of the coronavirus outbreak will receive support from Basingstoke and Deane Borough Council.
Following the Government’s announcement of financial support for businesses, the borough council has now received further guidance and will be supporting eligible firms.
All businesses in the retail, leisure and hospitality sectors, as well as early years providers, estate agents, lettings agencies and bingo halls, will not pay any business rates for the 2020/21 year and this discount will be automatically applied to their accounts.
Grants of £10,000 are available for all businesses that are normally eligible for small business rates relief and for businesses in the retail, leisure and hospitality sector with a rateable property value up to £15,000.
For businesses in the retail, leisure and hospitality sector with a rateable value between £15,000 and £51,000, a grant of £25,000 is available.
There is no need to apply for these grants and the council is currently checking eligibility.
As the owner of a number of properties across the borough, the council will also be introducing measures to support small businesses with annual rents of up to £50,000.
An automatic three-month rent and service charge holiday will be applied.
Tenants can still make payments during this period if they wish.
Basingstoke and Deane Borough Council leader Ken Rhatigan said: “We know this is an unsettling time for businesses across the borough and I am pleased that we are now able to roll out these measures announced by the government and further financial support for businesses who rent premises from the council.
“The business rates relief will be automatically applied to all eligible businesses and they will not need to take any further action.
“To ensure we are able to distribute the grant funding as quickly as possible, we will be contacting all businesses eligible for this support directly to gather further information.”
For more information about the council’s response to Covid-19 and support available for businesses, visit www.basingstoke.gov.uk/coronavirus