The Government announced in the Spring Budget some additional measures to help support businesses impacted by the Revaluation. These are:
- Any business coming out of Small Business Rate Relief will benefit from an extra cap - meaning their rates will not increase by more than £600 per year (£50 a month).
- There will be a £1,000 discount on business rate bills for pubs with rateable value of less than £100,000 – 90% of all pubs.
- A £300m fund (over 4 years) will be made available to councils to allow them to provide discretionary relief.
An information letter has been published on the GOV.UK website which gives a bit more information about how this funding will work.
Once the Government have agreed the finer details we will contact those businesses affected.
In the meantime the annual bills, printed prior to the budget announcement, have been sent out. Please pay your instalments as shown on the bill until advised otherwise.