Peter Foley is our resident guru here at CPA and has been passionately following the shifting world of business rates for many years. With a keen political insight, Peter’s writing reveals how policy change is key to understanding your business rates further, and how this could translate into substantial savings. In his weekly column, Peter also outlines a desired path forward, with changes we’d like to see implemented for a fairer system on the nation's business rates.
Long-awaited HM Government Guidance on the COVID-19 Additional Relief Fund (CARF) was published as long ago as the 15th of December 2021.
This fund was billed as a vital lifeline "to support those businesses affected by the pandemic but that are ineligible for existing support linked to business rates".
What on earth has happened?
Local authorities, charged with disbursing funds, were apprised of the criteria for making an award.
Rather naively, we thought that was it.
With the total value of the fund amounting to £1.5 billion, and individual "economic actors" (firms) eligible for allowances up to £2.2 million from the CARF Scheme, (and £10million available as a "Further Allowance" under CARF) the agony of waiting for help seemed over.
Businesses confident of their eligibility, not least since they have received not a penny under the previous Govt. relief schemes, need no reminding how unwieldy, if not downright impossible, operation of the CARF has proved to be.
Commercial Property Advisors (CPA) urges businesses to apply to the CARF as a matter of the utmost urgency, despite its problems, before the Government draws up its stumps and strolls back to the pavilion.
If you would like CPA to act on your behalf (free of charge, commission only being payable when funding has been achieved), contact us today, for further help and advice.
Comments