A message to Otley Businesses from Otley Business Improvement District
(sent via our website, email, Facebook & Twitter accounts on 16/3/20):
Dear Otley BID Member
We know that the next few months will be extremely challenging for most of you, but please be aware that Otley Business Improvement District are here to help wherever we can.
Following last week’s Budget announcements, please see below a summary of benefits that you may be eligible for:
Small Business Rate Relief
The Government made announcements in the Budget on Wednesday to support small businesses in the leisure, hospitality and retail sectors. This included an extension of 100% Business Rate Relief to those premises with a rateable value up to £51,000.
Business Rates Pubs Discount
The government previously committed to introducing a £1,000 business rates discount for pubs with a rateable value below £100,000 in England for one year from 1 April 2020. To further support pubs, in response to Covid-19 the discount for pubs will be increased to £5,000.
Small Business Grant
For businesses with a rateable value of up to £12,000 there will also be a £3,000 grant made available to help ease financial pressure in the short term. We are expecting Government to announce more details about how to claim this grant by the end of March 2020.
Here is a link to the full 2020 Budget Announcement.
Otley Business Improvement District Levy Invoice
We appreciate that any bill at this time is particularly unwelcome, and we have therefore taken the decision to extend the deadline in respect of your Otley BID Levy invoice from the 31st March to the 31st May 2020.
If you are concerned about paying any bills because of the recent drop in trade, we are here to help as best we can. Please contact us via email@example.com.
Chair of Otley Business Improvement District