Business Rates Relief fund of £1.5bn nationwide.
The Government announced a total pot of £1.5bn between all local authorities as a response to businesses nationally asking for their Rateable Values to be reduced because of the impact of Covid.
It has legislated to prevent COVID-19 being a reason under which a material change of circumstances appeal can be made to the VOA. The Bill for the relief is still waiting for second reading and is unlikely to get royal assent until after parliament summer break.
So it will be an autumn/winter announcement from Government on how the scheme should run.
This fund is likely to be discretionary with an element of local authority design – although we cannot be sure of this. We do not know as yet which sector of business will be assisted through this fund.
The relief is for those businesses that could not get retail discount or main grants under Covid. It is to reduce their charge in the year 2021/22.
Follow us @TDC_Business as we will make an announcement once we have details.
Latest covid business grant support available – ARG3
It’s not too late for businesses to apply via our website for the latest grant funding available to support rated and non-rated businesses required to close or severely impacted by the National Restrictions imposed on the 5 January.
Local plan consultation
Businesses are asked to comment on the possible job sites contained in the local plan consultation which runs until 9 August.
Sites are needed to enable new businesses to start up and for existing companies to expand or relocate to more fit-for-purpose premises.
The latest local Economic Development Needs Assessment - which will be updated in light of Brexit and Covid - showed that demand for employment sites was driven by the need to replace space as it becomes outdated, as well offering sufficient choice and flexibility for businesses.
The 18 employment sites identified in the Local Plan for consultation will contribute to the creation of job opportunities by providing for example office space; manufacturing and industrial units; storage and distribution facilities; trade counters; as well as complementary uses such as gyms, cafes or takeaways.
The final Local Plan will also support employment opportunities in town centres, provide residential accommodation for home working and provide the infrastructure to support major employment sectors such as education and healthcare.
Documents and other information about the consultation are at Teignbridge.gov.uk/localplanreview and you can complete the survey here.
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Jobs Plan for Teignbridge
Teignbridge Executive has approved a jobs plan to support the District’s post covid-19 recovery and also a means of monitoring progress.
Eviction protection extended for businesses
Existing measures to protect commercial tenants from eviction are being extended by the Government to 25 March 2022. This will give sectors unable to open time to come to an agreement with their landlord without the threat of eviction.
Temporary insolvency measures to support businesses during the COVID-19 outbreak have also been extended. Restrictions on statutory demands and winding up petitions will remain until 30 September to protect companies from creditor enforcement action where their debts relate to the COVID-19 outbreak.
Furlough
The Coronavirus Job Retention Scheme has been extended until 30 September 2021. From today (1 July), the government will pay 70% of wages up to a maximum cap of £2,187.50 for the hours the employee is on furlough.
Employers will top up employees’ wages to make sure they receive 80% of wages (up to £2,500) in total for the hours the employee is on furlough. The caps are proportional to the hours not worked.
Claims for furlough days in June 2021 must be made by 14 July 2021
Business rates review
The Government has published a consultation on more frequent rates revaluations. Proposals also include a duty to notify the Valuation Office Agency and local authorities of relevant changes to the occupier and property as well as the requirement for ratepayers to confirm certain data annually. Consultation closes on 24 August.
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