Andrew Wellens, Director at Avison Young says the deadline for applying in Bristol is 31st May
Businesses that were impacted by the Government’s lockdown measures during the Covid-19 pandemic are being urged to make applications for financial support prior to the closure of a government scheme which will close at the end of May in some locations.
The Covid Additional Relief Fund is aimed at businesses that were adversely affected by the pandemic but were not eligible for the reliefs that were provided to the retail, leisure, and hospitality sectors.
The £1.5bn Covid Additional Relief Fund, (CARF), was introduced by the Government following their decision to introduce retrospective measures that limited ratepayers’ ability to secure reductions in rateable value through the rating appeal system.
Each local authority is responsible for designing a scheme to administer the relief and as a result authorities may have different application deadlines and criteria.
Andrew Wellens, Director at Avison Young says,
“It is important that businesses are aware of the varying application deadlines that have been introduced by each authority, particularly those businesses with properties in multiple locations. The application deadline for businesses in Bristol is 31st May 2022, whilst in other local authorities the application window has not even opened yet.”
Some local authorities are automatically applying relief to accounts that they think are eligible, but it is important that businesses are aware of this scheme and do not miss out on much needed assistance.
In addition to the relief fund, businesses are also being urged to undertake a review of the current rateable values on their properties, which form the basis of their non-domestic rates bills.
Andrew Wellens goes on to say,
“The introduction of the new 2023 Rating List from April next year, will mean that the appeal process against current 2017 rateable values will close next March. It is therefore important that all businesses review the rateable values on their properties to ensure they do not miss out on potential rates refunds which could be backdated to April 2017. Given the complexities associated with both valuing properties for business rates and the actual appeal system, we would always recommend that businesses seek professional advice on these matters.”