Measure
At Autumn Budget 2021 the government announced the introduction of targeted business rate exemptions from 1 April 2023 until 31 March 2035 for eligible plant and machinery used in onsite renewable energy generation and storage, and a 100% relief for eligible low-carbon heat networks with their own rates bill, to support the decarbonisation of non-domestic buildings. The government is now bringing forward the implementation of these measures - they will now take effect from April 2022, one year earlier than originally planned.
This is in addition to the measures announced at Autumn Budget 2021, being a frozen business rate multiplier for 2022/23 for all ratepayers, and a 50% business rates relief for eligible retail, hospitality, and leisure businesses.
All business occupiers in England.
The measure will take effect from 1 April 2022.
We welcome the earlier introduction of the green reliefs for business rates as a way to encourage environmentally friendly and energy efficient investment and reduce carbon emissions of non-domestic buildings. The exemption for green technology will save businesses an extra £35 million in 2022/23 (in addition to the savings generated by the 100% relief for eligible low-carbon heat networks). This will boost the previously announced business support package, will contribute to the economic recovery and incentivise ‘green’ investment.