Spring Budget 2017
The Chancellor's Spring Budget on 8 March 2017 included three business rate announcements to assist ratepayers that faced an increase in their bills due to the 2017 revaluation.
Discretionary Support - The government made a limited amount of funding available over four years from 2017-18, to provide discretionary relief to those ratepayers facing significant increases in their bills following the 2017 rating revaluation.
We have rolled out our discretionary relief policy to help those businesses facing large rate increases following business rates revaluation. Relief has been applied to each qualifying applicant for 2017/18. Applicants will need to apply for relief for 2018/19 and future years.
Support for Small Business Rate Relief - There is increased support for those businesses that lost small business rates relief entitlement as a result of the 2017 rating revaluation. The support limits increases in bills to £600 per annum (£50.00 per month). Those businesses entitled to support are in receipt of the limited increases of £600 per annum for losing their small business rate relief entitlement. Relief has been rolled out to all the qualifying cases and has continued in 2018/19.
£1,000 discount for smaller pubs in 2017/18 and 2018/19 - The £1,000 business rate discount to pubs that are entitled to the relief was applied for the 2017/18 and will continue for the 2018/19 year. All qualifying pubs have already received their entitlement to relief.