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Sunak urged to follow Scotland on rates relief extension


Sunak urged to follow Scotland on rates relief extension

Scotland has extended its business rates holiday, with Finance Secretary Kate Forbes announcing that the tax relief will apply to businesses in retail, leisure, hospitality and aviation – sectors which have been badly hit by the coronavirus outbreak - and will last until April next year. The move has prompted calls for Rishi Sunak to announce a similar policy, with industry leaders urging the Chancellor to confirm an extension before his upcoming budget. Jerry Schurder, head of business rates at real estate advisor Gerald Eve, said that with firms “on their knees” and desperate for further support, “they need to know now, rather than waiting until March’s Budget to find out what their obligations will be.” John Webber, head of business rates at property firm Colliers, has also urged Mr Sunak to act immediately. Analysis by real estate advisor Altus Group show s that the rates relief, which is due to end on March 31, saved 358,264 occupied retail, leisure and hospitality properties in England from paying around £10.13bn.


Read more: The Daily Telegraph

 


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