Finance Minister Kate Forbes has provided an update on the Budget following a further £1.1bn of coronavirus funding from the UK Treasury.
Ms Forbes said: “When I presented our budget last month I guaranteed to extend non-domestic rates relief further if I was given the necessary resources. I can now deliver on that promise, providing the UK Budget in March delivers the funding we require.”
The move builds on the three month rates relief extension announced in the Scottish Budget and will be taken forward provided the Scottish Government receives the funding already assumed from the UK Budget on 3 March, and that requisite funds are available to maintain existing support into 2021-22.
Under these proposals, retail, hospitality, leisure and aviation businesses will pay no rates during 2021- 22.
Earlier indications by the Scottish Government suggested that those who qualify for relief will need to complete an application form, this remains the case. It is also uncertain at this stage whether relief will be granted to all property classes within retail, hospitality and leisure sector but we will advise as soon as further details are known.
- Newspapers will also continue to benefit from 100% relief for a further 12 months.
- Charitable rates relief will not be removed from mainstream independent schools until 1 April 2022 due to the ongoing impact of the pandemic.
Separately, local authorities will receive an extra £275 million in the current financial year to address COVID-19 pressures. If you require any further advice on these proposals, please feel free to talk to any of our team.
Business rates relief to be extended for full year