In the budget on Wednesday 8 March, the Chancellor made several announcements concerning Business Rates.
Small Business Ratepayers
Where a ratepayer no longer qualifies for small business rate relief, because the rateable value of their property is £15,000 and above, the increase in their rate bill from April (after taking into account the effects of transitional relief) will be no more than £50 per month (£600 for the year).
When we have further details about this scheme, we will identify ratepayers affected by this measure and notify them of the change in their payments.
Where the rateable value is less than £100,000 a reduction of £1,000 will be awarded for 2017/18.
Once again, when we have further details about the reduction, we will identify ratepayers affected by this measure and notify them of the change in their payments.
The Chancellor will introduce a discretionary fund, to be administered by local Council's to provide targeted help to individual ratepayers who have had a large increase in their rates bill from April.