Commercial tenants who cannot pay rent because of coronavirus-related disruption will be protected from eviction, the Government has revealed.
The measure forms part of the state’s emergency support package for businesses financially affected by Covid-19.
According to the Ministry of Housing, the legislation, included in the emergency Coronavirus Bill currently going through Parliament, will mean that no business can be forcibly removed from their premises should they miss a payment over the next three months.
If possible, the Government recommends that landlords and commercial tenants should communicate difficulties and come to a voluntary arrangement about rent payments, as businesses up and down the country struggle to control cash flow.
Importantly, the legislation will only defer rental payments, meaning any accumulated debt will still need to be paid after 30 June, when the temporary rules come to an end, unless there will be a further extension passed into law.
As an accountancy firm, we are here to support you and your business through this crisis. We want to reassure you that throughout these unprecedented times we can all share knowledge and advice and help everyone to come out the other side.
As is always the case advice will depend on your specific circumstances so please contact us today at info@src-time.co.uk if you have any queries.
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