Budget News

The chancellor announced in the budget on 8 March 2017, further help to ease the burden from higher business rates.

The Chancellor says the tax brings in £25bn a year, so he can't abolish the rates but he unveils three measures to help those affected:

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  1. No business losing small business rate relief will see their bill increase next year by more than £50 a month
  2. Eligible pubs with a ratable value of less than £100,000 will receive a discount of £1,000 in 2017/18
  3. A £300m fund for local councils to offer discretionary relief for hard-hit cases

Application forms were sent to the pubs we identified as possibly being eligible for this relief on 24 July 2017.  If you think you might be eligible more information is available on the business rates relief page.

A scheme was approved by members of the Cabinet on 26 July 2017 to provide relief for eligible  ratepayers who have faced increases in their rate bills over 12.5% due to the revaluation where their ratable value is less than 200,000. The relief will be 50% of the increase for 2017/18. Awards for years two to four will be at reduced levels, pro rata to the reduced funding from the government and ratepayers will be notified on a yearly basis of the level of their relief.

Ratepayers will be sent amended bills during August, along with a state aid declaration to complete and return to us to confirm their eligibility for the relief.

The government has provided guidance on the criteria to award relief under this scheme, but have also advised that in order to implement this it will be necessary for software providers to make the coding changes, The latest information we have from our software supplier is that this will be released to us at the end of the summer.

The government has indicated that any reliefs awarded will be subject to the usual state aid limitations.