Treasury announces 100% business rates holiday for UK shops

All UK retail and leisure businesses are to have a 100% business rates holiday for the next 12 months as part of emergency measures by the Chancellor to shore up firms facing critical trading conditions thanks to coronavirus.

HM Treasury also increased grants to small businesses eligible for Small Business Rate Relief from £3,000 to £10,000.

Over £3.5 billion in additional funding has been made available for devolved administrations for support to businesses in Scotland, Wales and Northern Ireland.

The government has been imposing more drastic measures in an effort to stem the spread of coronavirus. As much of the nation looks to self isolate, there are fears for retail – particularly due to the open ended nature of the coronavirus preventative measures.

CI.N is offering itself as a hub for the bicycle industry at this hard time for the market. More details here.

We’ve also got details on how bike shops can work to reduce coronavirus risk to staff and customers.

 

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