Finance Secretary Confirms Extension to Business Rates Holiday – 17/02/2021

Following the announcement of £1.1 billion of consequential funding from the UK Government, Scottish Government Finance Secretary, Kate Forbes, has confirmed the extension of 100% business rates relief for another year for retail, tourism and hospitality businesses.

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.

In a Budget Update statement to the Scottish Parliament Ms Forbes also confirmed £50M investment for town centres and £10M in capital funding specifically for tourism infrastructure in rural communities for next year.

ASVA, along with our colleagues at the STA and other trade bodies, has been actively lobbying for the extension of business rates relief and we very much welcomes this announcement by the Finance Secretary.

The full statement by the Finance Secretary can be viewed here.