New Government figures reveal that companies have missed out on approximately £300 million in Covid-related business rates relief.
Through the Covid-19 Additional Relief Fund (CARF), the Government made £1.5 billion available for British businesses.
However, it has now come to light that only 80% of the funds made available have been claimed, as reported by the Evening Standard.
The fund was initially designed to support businesses who did not meet the qualifying criteria for pre-existing tax relief packages and schemes, such as the Treasury’s Retail, Hospitality and Leisure Relief Fund (RHL).
Local authorities had been charged with allocating the funds to qualifying businesses.
Yet, with the deadline to issue rates relief long gone (30th September 2022), SMEs despair as millions of pounds of needed business funding have been left on the table.
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