Retail, Hospitality and Leisure Scheme
At the Autumn Statement on 22 November 2023 the Chancellor announced the introduction of a new business rates relief scheme for retail, hospitality, and leisure properties worth around £2.4 billion in 2024/25. This will support the businesses that make our high streets and town centres a success and help them to evolve and adapt to changing consumer demands.
The 2024/25 Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied, retail, hospitality, and leisure properties with a 75% relief, up to a subsidy control cap limit of £110,000 per annum per business (£315,000 per 3 years).
For businesses affected by this relief, your business rates bill has been issued with the relief applied for the full year to 31 March 2025. Any resulting liability will be payable by instalments from 1 April 2024 as this is the first date that a liability and payments become due.
If your business has received its business rates bill, and you have not had the discount applied but you believe you may be eligible, please complete online form.
Apply for the Retail, Hospitality and Leisure Scheme.
Should you not wish to receive these discounts, perhaps due to the potential for breaching the monetary cap as highlighted above, please download and complete the Expanded Retail Discount refusal form(PDF 132KB), or contact us by email at businessrates@lambeth.gov.uk. The discount will then be removed, and a revised bill issued.
These changes will have effect for 2024/25 only.
Excluded from this relief
Businesses that are being used for the provision of the following services to visiting members of the public:
- financial services (for example banks, building societies, cash points, bureaux de change, short-term loan providers, betting shops)
- medical services (for example vets, dentists, doctors, osteopaths, chiropractors)
- professional services (for example solicitors, accountants, insurance agents/ financial advisers, employment agencies, estate agents, letting agents)
- post office sorting offices
If it is apparent that a Business will breach the subsidy control cap of £315,000 over a three- year period the relief applied will be adjusted accordingly. i.e. a Business that has received the maximum of £110,000 for each of the financial years 2022/23 and 2023/24, relief applied for 2024/25 will be £95,000.
View GOV.UK guidance on the Retail, Hospitality and Leisure Scheme 2024/25.