In March 2017’s Budget Statement, the Chancellor announced that funding for “Locally administered business rate schemes” would be made available to councils to help provide further support for businesses affected adversely by the national revaluation exercise.
The scheme has been designed to provide temporary relief to small and medium sized local businesses.
Main qualifying criteria is:
- relief will only be awarded to local businesses who have a rateable value of between £15,000 and £200,000
- the Business Rates payable increased by 5% or more due to the revaluation
- the property was occupied by the same ratepayer on 31 March 2017 and 1 April 2017.
The following will not be eligible for relief:
- charities - due to already receiving a minimum 80% mandatory rate relief
- national businesses
- new occupiers of properties after the 1 April 2017.
Relief will end when a property becomes unoccupied.
The scheme operates on a tapering basis, so each year the award will reduce in line with government funding allocations. Eligible businesses will be notified individually by means of their rates bill for the financial year, which will show the amount of relief which will be awarded.
How can I make a claim?
We have already contacted the businesses that we believe meet the above qualifying criteria and have automatically awarded the relief. This will be shown on your latest bill as “Temporary Relief Scheme”.
View how to contact the Business Rates team if you have any queries regarding this relief, ensuring you provide your full contact details and details of your query.
Last updated: 23/03/2021 14:13