Local shops affected by flooding to be given 100% rate relief
The Government has announced that local shops affected by flooding will be given 100% rate relief as they work to rebuild their businesses.
It has also pledged to offer a “Repair and Renew” grant of up to £5,000 for all affected homeowners and businesses to help them build in better flood protection as they repair their properties.
Downing Street has confirmed that businesses affected by floods will be given the 100% rate relief for a period of three months. The relief will be administered by local authorities, which will be reimbursed by central Government. Businesses affected by flooding will also be allowed to defer payment of VAT, PAYE and corporation tax for three months to give them time to recover.
Association of Convenience Stores chief executive James Lowman said: “This announcement is a welcome step from Government to lessen the impact of flooding on our members in the short term. However, we must also focus on the long term and ensure that businesses have affordable flood insurance in the future.”
The ACS is currently campaigning for provisions in the Water Bill to extend affordable insurance protections to local shops and other businesses.
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