Brett Taylor of was kind enough to share the following news:
As you may have seen, the Prime Minister and the Mayor of London have set out a number of support measures for businesses affected by last week’s riots. These include:
- Businesses damaged will be able to seek compensation under Riot Damages Act.
- A new £20 million high street support scheme to help affected businesses get back up and running quickly.
- Local authorities will be given the ability to grant business rate relief, by funding at least three quarters of their costs, to minimise the costs facing businesses.
- Tax payments will be deferred for businesses in greatest need, through Time to Pay and other practical support.
- Government has instructed the valuation office to immediately stop liability for council tax and business rates for houses and businesses that have been the most badly damaged.
- Unnecessary planning regulations will be weeded out to ensure that businesses can get back on their feet and feel secure as quickly as possible.
- Urgent funding is immediately available through a new £10 million Recovery Scheme to provide additional support to councils in making areas safe, clean and clear again.
Further details can be found on the BIS website.
Mayor of London, Boris Johnson has also announced £50 million investment in long term improvements to town centres and high streets in London that have been damaged by the recent disturbances.
We will continue to liaise with the Mayor and the Metropolitan Police on issues which have arisen from the public disorder. In the meantime, if your business has been affected, this guide to legal and insurance issues may be useful. As we receive further details of additional support that will be provided to businesses that have been affected we will keep you informed.