12. Revaluation Support Relief
In the 2017 Spring Budget the Government created a fund to provide support to businesses who had been affected by the 2017 Revaluation. It was for local authorities to design a scheme for granting support.
What rate relief was available in our scheme?
- The scheme provided rate relief for 2 years - 2017/18 and 2018/19.
- For 2017/18 the maximum relief available was £10,000 and the minimum threshold was £50.
- For 2018/19 relief was based on 50% of your 2017/18 award provided this did not fall below £50.
- For 2019/20 relief was based on 50% of relief awarded in 2018/19 provided this did not fall below £50.
- For 2020/21 relief will be granted only in exceptional circumstances at the discretion of the Revenues & Benefits Service Lead using delegated powers.
Main principles of the scheme
- Relief was available to local businesses (those with premises only in Devon) where the rateable value did not exceed £200,000
- Businesses must have been in occupation on 31 March 2017 and 1 April 2017
- Relief was calculated on a daily basis and ceased if you vacated
- No relief was given to empty premises
- Rates must have increased by more than 2%. You were expected to pay the first 2% increase.
- Complies with EU state aid law