After yesterday’s news that the government has now extended business rates relief to estate agencies and letting agents, ARLA Propertymark has hailed the move.
Yesterday, the government announced that some of the exclusions for business rates relief have been removed, so that agencies would now be eligible for an 100% business rates retail discount.
This will ensure that estate agents and lettings agencies that are required to close will not pay any business rates next year.
Prior to the government’s announcement, Propertymark had lobbied MHCLG, MPs and Peers to urge the relief to be extended to property agent offices.
As well as lobbying, the group also wrote to the chancellor, business secretary and housing minister last week urging for immediate action to be taken. Propertymark members were also part of the campaign with many writing to their local MPs demanding action.
Eligible businesses will now be rebilled by their local authority and the new bill will give them a 100% discount. If businesses have made payments in the meantime, they will be refunded by their local authority.
Mark Hayward, NAEA Propertymark chief executive, said: We are pleased to see that the Government has listened and acknowledged the concerns from many estate and letting agencies across the country, that resulted in requests to three secretaries of state last week for the business rates relief to be extended to estate and letting agents.
“This is a real boost in uncertain times and will assist all businesses that are finding it difficult to operate in the current environment.”