In the spring budget 2017 the government announced three additional types of support and relief relating to business rates:
- Extended relief for small businesses
- Relief for pubs
- Support for businesses who face the steepest increases as a result of the 2017 revaluation
Extended relief for small businesses
The government is aiming to help businesses who are facing large increases in their business rates in 2017/2018 as a result of the loss of small business or rural rate relief due to a change in their rateable value.
The increase in your business rates bill will be limited to whichever is the greatest of the following:
- (a) An maximum increase of £600 per year (or £50 per month) cash value. The cash minimum increase ensures that customers who previously paid nothing or very small amounts now have to pay something; or
- (b) The matching cap on increases for small properties in the transitional relief scheme
These customers have been identified by the Council and the limits have been applied to the accounts and ratepayers have been issued with new bills.
If you think this applies to you and you have not had an amended bill, please call us on 01522 873342
Relief for pubs
Pubs that have a rateable value of below £100,000 have now been issued with application forms to apply for up to £1,000 discount on their rates bill for 2017/2018.
The relief is considered to be State Aid and therefore the council require a signed application form.
Ratepayers have been completing and returning these forms and a number of customers have had their amended bills.
If you have not returned your form, please ensure that you do so as soon as possible
If you think this applies to you and you have not had an application form, please contact us on 01522 873342.
Support for businesses who face steep increases
The government provided a £300m discretionary fund for businesses facing steep increases in business rates due to the 2017 revaluation.
This funding was distributed to the Local Authorities and will be available over the next four years.
Each Local Authority has put in place a discretionary scheme in order to determine how this funding will be distributed. You can find more details on our scheme on the relief information page.