Local shops that have been affected by flooding will be given 100 per cent rate relief following an announcement from the Government this morning.
The flooding has affected Somerset, Berkshire and Surrey badly and has hit homeowners and businesses in the region.
Prime Minister David Cameron said the Government will be introducing a grant for all affected homeowners and businesses to build in better flood protection as they repair their properties.
“That will be up to £5,000 per house and per business,” he explained. “I can also announce today that we will be deferring the tax payments that businesses have to pay and all of the businesses that have been affected by floods will get 100% business rate relief.”
Downing Street has confirmed that businesses affected by floods will be given 100% rate relief for 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.
ACS 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.”
ACS is currently campaigning for provisions in the Water Bill to extend affordable insurance protections to local shops and other businesses.
Supermarket Asda has committed to donating £400,000 to communities affected by the floods and stores and depots will be holding in-store collections. “Seeing the devastation and impact these floods are having on local communities across the UK, we wanted to quickly mobilise our global resources to help those in need,” said Kathleen Mclaughlin, president of the Walmart Foundation.
Rapleys, the commercial property and planning consultants, are offering free advice to businesses to ensure they receive the maximum possible rate relief. Business owners should contact Nic Moor of the ratings team on 01480 371426 or Alan Watson on 01480 371454, or email firstname.lastname@example.org.