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16 March 2020
Limiting the impact on the business community
New measures to limit the impact of COVID-19 on the business community in Scotland have been announced by Finance Secretary Kate Forbes.
The following steps will be put in place to support businesses during the 2020-21 financial year:
• a 75% rates relief for retail, hospitality and leisure sectors with a rateable value of less than £69,000 from 1 April 2020
• an £80 million fund to provide grants of at least £3,000 to small businesses in sectors facing the worst economic impact of COVID-19
• 1.6% rates relief for all properties across Scotland, effectively reversing the planned below inflation uplift in the poundage from 1 April 2020
• a fixed rates relief of up to £5,000 for all pubs with a rateable value of less than £100,000 from 1 April 2020
The Finance Secretary will also write to all local authorities urging them to respond positively to requests from rate payers for payment deferrals for a fixed period.
All rate-payers will benefit from a relief that effectively reverses the planned inflationary uplift in the poundage that was due to come into effect in April.
The measures will provide £320 million of assistance to Scottish business and ensures that all Non Domestic Rate consequentials expected from the UK government associated with the COVID-19 outbreak will be used to provide Scottish business with support.
The Scottish Government will also be making the case to the UK government that, because of the larger number of small businesses in Scotland, they need additional resources to be able to provide further support.
A Covid-19 helpline has been launched by the Scottish Government. The business helpline number is 0300 303 0660, and it will be open Monday to Friday, 8.30am to 5.30pm. Callers should select option one to speak to the COVID-19 team.
Updates and advice from the Scottish Government can be found here.